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Meijer invests big in new stores, remodels
GRAND RAPIDS, Mich. — Meijer is investing more than $160 million in new store construction and remodeling.
The investment includes the construction of six new Meijer supercenters and major remodel projects for an additional five stores. Michigan, Indiana and Illinois will each welcome two new Meijer supercenters, with remodel projects planned at an additional four Michigan stores and one Meijer location in Illinois.
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J.C. Penney increased credit facility
New York -- J. C. Penney Co boosted its borrowing capacity under a bank credit facility by $100 million to $1.85 billion and expanded an option to borrow more at a later date.
"As we enter the second year of our transformation, today's announcement reflects the confidence of our banking group in our long-term strategy and further strengthens our liquidity position as we continue to execute our plan," J.C. Penny CFO Ken Hannah said in a statement.