Orlando, FL -- (SBWIRE) -- 08/15/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On RadioShack Corporation (NYSE:RSH), Macy's, Inc. (NYSE:M).
RadioShack Corporation(NYSE:RSH) is reportedly planning to refinance its debt by replacing its high interest loans with new, lower-cost loans.
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The struggling retailer thinks that it can avoid a restructuring by doing so. It wants to pay off current lenders, including Bank of America and Wells Fargo, and secure better borrowing terms from new lenders.
It is possible that Wells Fargo and Bank of America would supply new loans. Also, third parties like GE Capital Corp might also be willing to offer loans.
RadioShack is working with bankers to help improve liquidity, while turnaround advisers are helping the company operate.
The company’s total debt was about $713 million at the end of last quarter. Its liquidity which was about $818 million has now shrunk to about $600 million.
Meanwhile, another company in the retail space, Macy's, Inc.(NYSE:M) has reported a lower-than expected profit for its second quarter and also trimmed its outlook for the year. The department store operator attributed the fall in sales to shoppers' reluctance to spend.
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For the 3-month period ended Aug. 3, the company earned a net income of $281 million, or 72 cents per share. Analysts had expected 78 cents per share. The company had earned $279 million, or 67 cents per share, in the year-ago period.
Revenue dropped to $6.07 billion, short of the $6.26 billion expected by the Street.
Revenue at stores open at least a year, a key metric, slid 0.8 percent.
Macy's which had forecast a 3.5 percent increase in stores open at least a year, now expects a 2 percent to 2.9 percent climb.
Also, it now sees earnings between $3.80 and $3.90 per share, down from the previous forecast of $3.90 to $3.95 per share.
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