J.C. Penney Co. Chief Executive Officer Myron Ullman received a $1.75 billion loan commitment from Goldman Sachs Group Inc. and has been raising some prices as he works to stanch the retailer’s cash drain.
Macy’s Inc., Gap Inc. and Target Corp. led U.S. retailers to the biggest monthly same-store sales gain in more than a year as shoppers snapped up discounted merchandise chains were clearing out after the holidays.
Sears Holdings Corp., the retailer controlled by hedge-fund manager Edward Lampert, posted a fourth-quarter loss that was larger than it forecast last month as sales fell for the sixth consecutive year.
Cuba is seeking to add to its 32 Olympic boxing gold medals in London after failing to get one for the first time since 1968 at the last games. One of the team’s backers stayed loyal since Beijing: Adidas AG.