After reporting its worst quarterly sales drop in almost 15 years, RadioShack Corp. is as good as defaulted in the eyes of credit investors, according to Moody’s Corp.’s capital markets research group.
J.C. Penney Co. Chief Executive Officer Ron Johnson is finding it harder to convince bondholders than stockholders that his plan to turn around the fourth- largest department-store chain is “on track.”
J.C. Penney Co.’s plan to fund its turnaround with cash from operations is in jeopardy as the department store chain’s biggest quarterly loss since 2004 boosts the chances it will need alternative sources of capital.
RadioShack Corp.’s new financing falls short of what the unprofitable electronics retailer needs to turn itself around after a “sharp decline” in third-quarter performance, according to debt research firm CreditSights.
Macy’s Inc. is rewarding bondholders with the retail industry’s biggest returns as the most- profitable U.S. department store boosts sales in the face of what may be the weakest holiday shopping season since 2009.