Financial institution $CFG said it has priced an offering of $350MM total principal amount of 2.375% senior unsecured notes due July 28, 2021 at 99.948%. The offering is expected to close on July 28, 2016.
Read a media report stating that good times are coming to an end for Dollar stores. If you ask me, there appears to be no cloud on the horizon and major Dollar stores like $DG and $DLTR are doing well for sure.
$COO stated that for FY17, the company expects gross margins
to improve to around 64.5%, while operating margin is expected to improve to 25%. On the
interest expense side, $COO expects it to be around $28MM for FY17, which includes the
additional debt from the Wallace acquisition along with an assumption of 125 BP
Geographically, $COO said its EMEA region posted a strong quarter in 4Q16, up 12% in constant currency. Growth was driven by Biofinity and 1-day silicone hydrogel franchise. Asia-Pacific region also had a strong quarter, up 13% in constant currency. In Japan, $COO added that its MyDay, Sphere, and Toric launch is progressing well.
$COO's CooperVision segment posted strong results in all key
areas of its business in 4Q16, resulting in 10% as reported & 11% constant currency
revenue growth. This is the fastest CooperVision has grown in 11 qtrs.
CooperSurgical also had another strong qtr. posting revenue growth of 20%, while
Fertility was the highlight posting a growth of 74%.
$FRED commented that over the next few quarters, the company
will take additional charges related to store closures and corresponding
closing expenses related to the operating lease liabilities of $9-11MM. In
2017, $FRED expects to incur additional expense related to consulting, employee
insurance and software licensing, and advertising.
saw its 2Q16 weakness continue into 3Q16, including soft sales in both pharmacy
and the front store along with reduced margins in pharmacy. Pharmacy sales
declined due to the shift to 90-day prescriptions and by the impact of hepatitis
C and specialty pharmacy. Total company traffic was down by 3.8% compared to
last year and basket was flat.