Paul Swinand News
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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.
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Collective Brands Inc., owner of the Payless ShoeSource chain, may lure private equity buyers as it trades at a 76 percent discount to its sales.
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In the years before the recession, private-equity firms put so much faith in the future of U.S. brick-and-mortar retailers that they spent $36 billion on them.
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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.
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Lance Armstrong said he cheated by using drugs through a record run of titles in cycling’s biggest race and probably forced other athletes to follow his lead.
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Lance Armstrong may lose as much as $200 million in future earning potential, more than the wealth he accumulated in a championship cycling career now gutted by revelations of doping.
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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.
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John Wilcockson, who has been to 44 consecutive Tours de France and wrote six books about Lance Armstrong’s victories, counts himself among those taken in by the confessed doping cheat.
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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.
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Visa Inc., MasterCard Inc. and some of the biggest U.S. banks agreed to a settlement of at least $6.05 billion in a price-fixing case brought by retailers over credit-card swipe fees.
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