Content about General Electric

April 9, 2014

Walmart, a pioneer in the use of LED lighting systems in signage, freezer cases and parking lots, is expanding its use of LEDs to the sales floor.

Bentonville, Ark. -- Walmart, a pioneer in the use of LED lighting systems in signage, freezer cases and parking lots, is expanding its use of LEDs to the sales floor. In a major move, the retailer plans to install energy-efficient LED ceiling lighting from GE in its new supercenters in the United States, along with stores in Asia, Latin America, and the United Kingdom. In all, 200 new Walmart stores will adopt the new GE LED ceiling lighting during the next two years, which translates into a total energy savings of 620 million kWh over the next 10 years.

January 14, 2014

GE Capital and Kobie Marketing, a loyalty program service provider, will unveil a new product to help retailers establish and maintain loyalty programs that will create a unified profile for shoppers, according to a report by the New York Times.

New York -- GE Capital and Kobie Marketing, a loyalty program service provider, will unveil a new product to help retailers establish and maintain loyalty programs that will create a unified profile for shoppers, according to a report by the New York Times.

December 16, 2013

GE Capital, Corporate Retail Finance said it is administrative agent on a $250 million senior revolving credit facility for regional sporting goods retailer Dunham’s Athleisure Corp.

Norwalk, Conn. -- GE Capital, Corporate Retail Finance said it is administrative agent on a $250 million senior revolving credit facility for regional sporting goods retailer Dunham’s Athleisure Corp.

The proceeds will support ongoing working capital needs and new store growth.

October 21, 2013

RadioShack has secured a financial boost from GE Capital, securing a loan of about $835 million, according to Marketwatch.com.

New York -- RadioShack has secured a financial boost from GE Capital, securing a loan of about $835 million, according to Marketwatch.com.

The loan, backed by inventory and other existing assets, will help the chain refinance the company's outstanding bank debt and free up cash for its ongoing revamp, the report said.

 

October 15, 2013

GE Capital Retail Bank announced a long-term extension of its private label and dual card credit program with J.C. Penney Co.

Stamford, Conn. -- GE Capital Retail Bank announced a long-term extension of its private label and dual card credit program with J.C. Penney Co.

Launched in 1999, the credit card program is managed by GE Capital’s Retail Finance business and available for purchases at any of the nearly 1,100 J.C. Penney stores across the United States and Puerto Rico.

October 7, 2013

GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers.

Norwalk, Conn. – GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers. The proceeds will be used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.

July 1, 2013

A switch from fluorescent lights to LED in its frozen-food cases will result in total annual energy and maintenance savings of approximately $570,000 for Stater Bros.

East Cleveland, Ohio -- A switch from fluorescent lights to LED in its frozen-food cases will result in total annual energy and maintenance savings of approximately $570,000 for Stater Bros. The supermarket retailer has retrofitted the cases in nearly all of its 166 stores with GE’s LED refrigerated display lighting,

After evaluating lighting options, Stater Bros.’ retail marketing team chose GE’s 17-watt Immersion RV40 LED systems to replace the 60-watt fluorescent fixtures in freezer cases.

May 28, 2013

GE Capital announced it is administrative agent on a $550 million senior secured credit facility for Lord & Taylor, a leading North American retailer.

Norwalk, Conn. -- GE Capital announced it is administrative agent on a $550 million senior secured credit facility for Lord & Taylor, a leading North American retailer. The proceeds will be used to refinance debt, support ongoing working capital needs and for other corporate purposes.  

GE Capital also provided the company with interest rate risk management products and services.  GE Capital Markets served as joint lead arranger and book runner.
 

February 13, 2013

GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with J.C. Penney Co.

Stamford, Conn. -- GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with J.C. Penney Co.

The JCP consumer card program provides credit to millions of consumers who shop at more than 1,100 J.C. Penney stores in communities across the United States and Puerto Rico, as well as online at JCP.com.

September 5, 2012

GE Capital, Corporate Retail Finance announced it is co-collateral agent on a $1.65 billion asset-based credit facility for Supervalu Inc.

Norwalk, Conn. -- GE Capital, Corporate Retail Finance announced it is co-collateral agent on a $1.65 billion asset-based credit facility for Supervalu Inc.

The loan will be used for working capital needs and to refinance existing debt. GE Capital Markets served as joint lead arranger and joint bookrunner.

“This financing will provide Supervalu with more financial flexibility as we execute our business turnaround.” said Sherry Smith, executive VP and CFO of Supervalu.

September 4, 2012

GE Capital said that it is serving as administrative agent on a $150 million senior secured credit facility to support the combination of Golf Town and Golfsmith, owned by parent company Golfsmith International.

Norwalk, Conn. -- GE Capital said Friday that it is serving as administrative agent on a $150 million senior secured credit facility to support the combination of Golf Town and Golfsmith, owned by parent company Golfsmith International. 

GE said the credit facility will be used to support working capital and to refinance existing debt.
 
"GE Capital structured the financing that will enable us to make … our ongoing operations a success," said Sue Gove, president and COO of Golfsmith International. 

August 24, 2012

A switch to LED lighting technology in its refrigerated coolers has resulted in combined energy and maintenance savings of more than $1 million annually for convenience store operator Wawa.

New York -- A switch to LED lighting technology in its refrigerated coolers has resulted in combined energy and maintenance savings of more than $1 million annually for convenience store operator Wawa.

The new technology, Immersion from GE Lighting Solutions, has been installed in Wawa’s 600 locations across the Mid-Atlantic region, and has reduced refrigerated cooler/freezer electricity and maintenance expense by a combined 78% since its adoption.

July 12, 2012

Walgreens recently upgraded its general lighting across 80% of the chain's nationwide locations, through a partnership with GE Lighting.

East Cleveland, Ohio -- Walgreens recently upgraded its general lighting across 80% of the chain's nationwide locations, through a partnership with GE Lighting.

As part of its new lighting initiative, Walgreens said it has changed its lights to the new GE F25 T8 linear fluorescent tubes, which is designed to save thousands of dollars as it impacts more than 4.3 million lights at nearly 7,000 stores. Additionally, the new linear fluorescent fixtures from GE Lighting are expected to increase energy efficiency by 9% and extend re-lamp cycles by 10%.

June 29, 2012

Brookshire Brothers has launched a facility-wide lighting update, including in-store, parking lot, exterior signage and refrigerated case fixtures.

New York -- Brookshire Brothers has launched a facility-wide lighting update, including in-store, parking lot, exterior signage and refrigerated case fixtures.

Using a combination of new linear fluorescent lighting and LED technologies -- from GE Lighting, East Cleveland, Ohio -- Brookshire will, once all of its stores have been completed, reduce its annual operating costs more than $235,000.

April 27, 2012

GE Capital, Corporate Finance announced it is administrative agent for a $70 million asset-based credit facility for Le Château, a leading Canadian specialty retailer and apparel manufacturer.

New York -- GE Capital, Corporate Finance announced it is administrative agent for a $70 million asset-based credit facility for Le Château, a leading Canadian specialty retailer and apparel manufacturer. The loan will be used to refinance existing debt and support working capital needs.

February 8, 2012

Genpact, a leader in business process and technology management, announced the transition services started in 2011 have been completed and IT Help Desk production support services are now fully operational as of Jan. 1, 2012 with Dollar General Corp.

New York City -- Genpact, a leader in business process and technology management, announced the transition services started in 2011 have been completed and IT Help Desk production support services are now fully operational as of Jan. 1, 2012 with Dollar General Corp.

November 22, 2011

Walgreens received GE Lighting’s Retailer of the Year award in recognition of the drugstore chain’s transition from F28 to F25 linear fluorescent lamps, a strategic move that enabled the company to achieve a 9% energy savings while also extending its re-lamp cycle — how frequently it changes bulbs — by 10%.

East Cleveland, Ohio -- Walgreens received GE Lighting’s Retailer of the Year award in recognition of the drugstore chain’s transition from F28 to F25 linear fluorescent lamps, a strategic move that enabled the company to achieve a 9% energy savings while also extending its re-lamp cycle — how frequently it changes bulbs — by 10%. The award was presented at GE’s third annual LED & Energy Efficient Lighting Trends for Retail conference, held at the lighting unit’s headquarters in East Cleveland, Ohio.

October 24, 2011

GE Lighting devised an innovative way to educate retailers about lighting trends and products, and has been on the road since February with its GE Lighting Revolution Tour. Chain Store Age talked with GE’s Cate Gutowski about the tour, its objectives and what lies ahead for retail lighting.

October 14, 2011

Stein Mart and GE Capital’s Retail Finance business announced Friday the multi-year renewal of the Stein Mart co-branded credit card program.

Stamford, Conn. -- Stein Mart and GE Capital’s Retail Finance business announced Friday the multi-year renewal of the Stein Mart co-branded credit card program.

Plans with the new agreement include launching a private label Stein Mart credit card in early 2012 that will be integrated into the customer loyalty program to drive sales and customer engagement.

October 12, 2011

A report released Wednesday by GE Capital found that the majority of retail CFOs are fairly optimistic about their industry, even though the outlook for the economy has soured.

Norwalk, Conn. -- A report released Wednesday by GE Capital found that the majority of retail CFOs are fairly optimistic about their industry, even though the outlook for the economy has soured.

According to the GE Capital Middle-Market CFO Survey, 58% of retail CFOs believe their revenues will increase in 2011. However, that has dropped from 80% in the first quarter. Less than half – 42% -- expect to increase capital expenditures, up from 38% in the first quarter.

June 8, 2011

Retail CFOs of U.S. middle-market companies are becoming more optimistic concerning the state of the industry, according to the latest GE Capital survey of retail CFOs of companies with revenues ranging from $50 million to $1 billion.

Norwalk, Conn. -- Retail CFOs of U.S. middle-market companies are becoming more optimistic concerning the state of the industry, according to the latest GE Capital survey of  retail CFOs of companies with revenues ranging from $50 million to $1 billion.

Half (50%) of the surveyed CFOs plan to replace old equipment with newer, more efficient equipment as a way of improving operational efficiencies. The second most anticipated initiative to improve operational efficiency among the CFOs was a reduction in the number of suppliers (24%).

April 13, 2011

Over the next nine months, the GE Lighting Revolution Tour will showcase the future of lighting in 47 different U.S. and Canadian cities.

East Cleveland, Ohio -- The future of lighting -- with an emphasis on the powerful potential of LEDs, fluorescent, halogen and ceramic metal halide lighting systems -- is on the move. Lighting professionals and designers, distributors, architects, contractors, facility maintenance and utility executives, as well as government officials are invited to register at gelightingrevolutiontour.com for a sneak peek of the brightest lighting technologies on the horizon this year and beyond.

January 28, 2011

Borders Group said it has received a commitment from GE Capital, Restructuring Finance to provide a $550 million senior secured credit facility.

Ann Arbor, Mich. -- Borders Group said it has received a commitment from GE Capital, Restructuring Finance to provide a $550 million senior secured credit facility. Upon completion, the facility, including the obtaining of $125 million of additional junior debt financing via the conversion of vendor payables and/or external sources, will provide Borders with the financial flexibility and an appropriate level of liquidity to move forward with its strategy to reposition its business model and the Borders brand.

January 25, 2011

survey released Tuesday by management consultancy Hay Group, ranking the 20 best companies for in terms of leadership, said that both Walmart and McDonald’s made the sixth annual list, but incumbents Zappos and Ikea dropped out of the rankings.

Philadelphia -- A survey released Tuesday by management consultancy Hay Group, ranking the 20 best companies for in terms of leadership, said that both Walmart and McDonald’s made the sixth annual list, but incumbents Zappos and Ikea dropped out of the rankings.

November 7, 2010

Walmart’s 22 stores in Puerto Rico are switching to GE Evolve LED Area Lights in...

San Juan Walmart’s 22 stores in Puerto Rico are switching to GE Evolve LED Area Lights in their parking lots. The completed project is expected to save up to 48% of the electricity traditionally required to light its parking lots, while cutting maintenance costs by an estimated 75%.