Home / Knowledge / News / Apparel/Garments / JC Penney raises new debt via $350mn senior unsecured note
JC Penney raises new debt via $350mn senior unsecured note
10
Sep '14
US apparel retailer JC Penney plans to sell $350 million of five-year senior notes to retire debt falling due in the next three years.

JC Penney said it will use the proceeds to redeem around $300 million of borrowings due from October of next year through April 2017.

The remaining amount, the retailer said, will go towards general corporate purposes including retiring a portion of its old debts.

For the second fiscal quarter of 2014, JC Penney reported sales of $2.8 billion, up from $2.66 billion last year.

EBITDA outperformed analyst expectations as it posted a positive $90 million, a year-on-year improvement of $342 million.

However, the retailer incurred a net loss of $172 million or a negative $0.56 per share in the second quarter of 2014.

JC Penney said it reported a third consecutive quarter of growth, with gross margin improving 640 basis points from same quarter last year and 290 basis points sequentially from first quarter of 2014. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search