Bed Bath & Beyond says it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, netting it $250 million in proceeds.
Bed Bath & Beyond says it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital.Bed Bath & Beyond's new CEO, Mark Tritton, says the move "marks the first step toward unlocking valuable capital."Bed Bath & Beyond
shares jumped nearly 3% Monday morning after the retailer said it had completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, netting it $250 million in proceeds. The embattled company's new CEO Mark Tritton, who just took the reins in November, said the deal, which entailed selling real estate and leasing it back, "marks the first step toward unlocking valuable capital ... that can be put to work to amplify our plans to build a stronger, more efficient foundation to support revenue growth, financial stability and enhance shareholder value."that the properties it has sold represent about 2.
The company said it is continuing to work with outside financial advisors to review its real estate and determine the best uses "to optimize its asset base and enhance shareholder value." Bed Bath & Beyond said it plans to use the proceeds from the deal announced Monday to reinvest in its core business and transformation efforts, to fund share repurchases and to reduce outstanding debt, or a combination of these tactics.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Love Island's Iain Stirling recreates Maura and Curtis's steamy naked bath snapLove Island voiceover man Iain Stirling has poked some fun at former contestants Maura Higgins and Curtis Pritchard by posting a parody of their recent racy post
Consulte Mais informação »
Opinion: Are baby boomers ruining the housing market for everybody else?Opinion: Are baby boomers ruining the housing market for everybody else? (via latimesopinion)
Consulte Mais informação »
The 14 Best Deep Conditioners to Revive Curly Hair This WinterWe've rounded up the best deep conditioners to help give your curls a little TLC this winter.
Consulte Mais informação »
Hot Property Newsletter: There's music in the real estate airSammy Hagar, Troy Van Leeuwen and John Hiatt are among musicians making the housing scene.
Consulte Mais informação »