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Starbucks adds new retail to the mix
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Starbucks Corp. announced it is planning to use its coffee shops as a testing ground to get more products into grocery stores, according to a growth plan Chief Executive Howard Schultz outlined in an internal memo and an interview. Schultz and his senior management team met to develop a "blueprint" for the company's growth in the next fiscal year. In a memo sent to executives on Tuesday, Schultz said he's aiming to leverage retail stores that feature Starbucks to build a stronger consumer packaged goods business. Finding new ways to grow is crucial for Starbucks, as the company has struggled in recent years after a strategy rapid of growth had run its course. When the recession hit and many consumers could no longer afford pricey coffee drinks, Starbucks retrenched, closing hundreds of stores, cutting costs and focusing on making its existing stores run more efficiently. More



Register Now for the Upcoming PRSM Webinar
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Are you new to facilities maintenance? Facilities Maintenance 101 webinar provides you with the basic best practices of facilities maintenance in the retail environment. More

Brinker International 4Q net income up 50 percent
The Associated Press via Google News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Brinker International Inc., which owns the Chili's restaurant chain, said its fiscal fourth-quarter net income rose 50 percent as costs fell and it booked a gain on the sale of its On The Border Mexican Grill & Cantina unit. The company earned $63.6 million, or 62 cents per share, up from year-ago net income of $42.1 million, or 41 cents per share. Excluding discontinued operations and one-time items, Brinker's profit amounted to 44 cents per share for the three months ended June 30. The company said better beef and chicken prices helped offset costs of promotional discounts and menu changes at Chili's. More

American Apparel seems to actually be on its last leg
New York Times Magazine    Share    Share on FacebookTwitterShare on LinkedinE-mail article
What would the world be like without American Apparel? What would your life be like without American Apparel? Naked? And cold, but with warmer ass cheeks? These questions, like it or not, become more real with each passing day as the clothing company's financial woes reach terrifyingly dismal places. More

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Target earnings rise; sales 'softer' than expected
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Target Corp., the second-largest U.S. discount retailer, posted a 14 percent profit gain that met analysts' estimates after earnings at the credit-card unit increased. Target said that net income rose to $679 million, or 92 cents a share, meeting the average of estimates compiled by Bloomberg. Second-quarter sales came in "softer than expected," Chief Executive Officer Gregg Steinhafel said in a statement. Shoppers in the U.S., where all Target's stores are located, lost confidence after the economy shed more than 350,000 jobs combined in June and July. More

A&F returns to 2Q profit; to close 60 stores
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article
Preppy retailer Abercrombie & Fitch Co. returned to a second-quarter profit as its strategy of lowering some prices boosted sales. But its shares fell 9 percent as investors worried about the company's gross margin eroding and its inventory growing. The company, which has struggled during the down economy, said that it will close 60 stores in the U.S. in 2010 as it expands internationally. More



Back in black at Penney's and Dillard's
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Department stores J.C. Penney and Dillard's both posted earnings today that put them back in the black for their fiscal second quarters. J.C. Penney said it swung to a profit of $14 million, or $0.06 per share, compared to break even results in the same quarter last year. Net sales declined 0.1 percent, to $3.94 billion, on a same-store sales increase of about 1 percent. J.C. Penney said it is now looking for full-year earnings of $1.40 to $1.50 per share, down from its prior forecast in May of $1.64 per share. More



Levis launches new global brand, aimed at China
The Associated Press via The Washington Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Jeans maker Levi Strauss & Co. launched a new global brand in China, joining a growing list of companies that hope to crack this fast-growing and youthful market by tailoring their products to Chinese tastes. Models at the launch were wearing sneakers and high-heeled sandals: not a cowboy hat or boot in sight. The new brand is aimed at young consumers in emerging markets, starting with China, Singapore and South Korea. More


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