Content about Extinguishment

August 27, 2014

The Michaels Companies Inc. reported a net loss of $48 million in the second quarter of fiscal 2014, compared to net income of $17 million in the year-ago period, as $68 million in costs associated with debt-extinguishment and drove the retailer into the red.

Irving, Texas – The Michaels Companies Inc. on Wednesday reported a net loss of $48 million in the second quarter of fiscal 2014, compared to net income of $17 million in the year-ago period, as $68 million in costs associated with debt-extinguishment and drove the retailer into the red. Its results, however, beat analysts estimates, and the company raised its full-year outlook. It was Michaels’ first earnings report since it went public again at the end of June.

June 6, 2013

Ascena Retail Group Inc. reported its fiscal third-quarter net income dropped nearly 37% amid costs related to its acquisition of Charming Shoppes and a charge tied to debt extinguishment.

Suffern, N.Y. -- Ascena Retail Group Inc. reported its fiscal third-quarter net income dropped nearly 37% amid costs related to its acquisition of Charming Shoppes and a charge tied to debt extinguishment. The chain also lowered its full-year earnings forecast.

Net income slipped to $31.2 million for the quarter that ended April 27, from $49.4 million in the same quarter a year ago.

Revenue rose nearly 46% to $1.14 billion, boosted by the company’s acquisitions of the Lane Bryant and Catherines chains. Same-store sales fell 4%.