Borders Cafes Reveal New Face
Ann Arbor, Mich., Six Borders Books and Music stores in Oregon will be the first to convert the Borders cafes into Starbucks-owned Seattle’s Best Coffee cafes. Grand re-openings will be celebrated in the Corvallis, Eugene, Gresham, Portland, Salem and Beaverton branches on Feb. 11. Seattle’s Best Coffee’s full line of beverages will be available at the newly branded bookstore cafes. More than 400 other Borders cafes across the nation also will undergo this change over the next few years.
Lowes Foods Adopts Biometric Payment
Winston-Salem, N.C., Lowes Food Stores in North Carolina will go biometric in the spring. Through a deal with Herndon, Va.-based BioPay, the grocery chain will install a fingerprint-scanning system that allows customers to pay for merchandise with a touch of a finger. The chain also uses BioPay’s Paycheck Secure system to cash payroll checks.
Party City Corp. 2Q Profit Falls
Rockaway, N.J., Party City Corp.’ second-quarter profit fell on lower sales and higher costs for investments in merchandising and logistics, sharply missing Wall Street estimates.
For the three months ended Jan. 1, net income fell to $14.7 million, or 74? a share, down from $19.3 million, of 98? a share, a year ago. Revenue fell to $174.3 million from $182.6 million. General and administrative expenses rose to $10.7 million from $7.5 million. The company said it expects to benefit from its investments beginning in the fourth quarter.
Same-store sales at company-owned stores dropped 5.6% during the quarter, while franchise stores posted a 2.8% decline. Total chain net sales fell 3% to $356.8 million.