-
Target’s U.S. business exceeds expectations
Overshadowed by Target’s bombshell announcement to exit Canada, the retailer said U.S. sales – and profits – were much better than expected during the holidays.
The favorable combination of increased traffic and stronger than expected digital sales enabled the company to produce a 3% same store sales increase during November and December versus an earlier forecast which called for 2% growth.
-
Rite Aid increases borrowing capacity to $3 billion
Camp Hill, Pa. - Rite Aid Corp. has increased its borrowing capacity to $3 billion as part of a refinancing of an 8% senior secured notes that are now due in January 2020. Borrowing capacity will increase to $3.7 billion when the notes are paid.
Rite Aid expects, at current rates, to save approximately $20 million in annual interest expense, based on a $3 billion facility, and approximately $50 million in annual interest expense, based on a $3.7 billion facility and the redemption of the notes.
