Orchard Supply Hardware Stores has announced continuing progress with key operating and financial initiatives under its repositioning strategy:

• The company reduced its debt by more than $90 million during the past 12 months and secured financing for store remodels, primarily by executing multiple sale-leaseback transactions;

• Orchard refinanced its Senior Secured Credit Facility in October. As of Oct. 27, the company had about $64 million of cash and credit available;