Nike, Starbucks Join New Environmental Business Coalition
Oakland, Calif. Nike, Starbucks, Sun Microsystems, Levi Strauss & Co. and The Timberland Co. have partnered with Ceres to create a business coalition, dubbed Business for Innovative Climate and Energy Policy, (BICEP) that will lobby Washington for swift and stringent climate-change legislation.
“Jump-starting the transition to a clean-energy economy will require bold energy and bold climate policies from Washington, and all businesses, not just the major emitters, must have a voice in crafting these policies since climate change will impact all sectors of our economy,” said Mindy Lubber, president of Ceres, a coalition of investors and environmental groups working to address sustainability challenges.
The new group plans to flex its muscles for aggressive new environmental policies based on the following eight principles:
1. Reducing greenhouse-gas emissions 25% below 1990 levels by 2020, a more stringent goal than California’s far-reaching climate-change regulation, which aims for cutting emissions to 1990 levels by 2020;
2. A nationwide greenhouse-gas cap-and-trade system in which all emissions permits are auctioned off, not given away;
3. Creating aggressive policies that will lead to a doubling of the historic energy-efficiency-improvement rate;
4. A national renewable portfolio standard where 20% of electricity will come from renewable sources by 2020, increasing to 30% by 2030;
5. Investment in renewable energy and carbon capture and storage (CCS) technologies and the elimination of subsidies for fossil fuels;
6. No more coal-fired power plants unless they use CCS technology, with a plan to eliminate existing plants without CCS by 2030;
7. Boosting more efficient transportation in the form of plug-in electric and fuel-efficient vehicles, low-carbon fuels and transit-friendly development; and
8. Green-collar job investment.
Barnes & Noble posts 3Q loss, lowers outlook
NEW YORK Barnes & Noble reported sales for the third quarter of $1.1 billion, a 4.4% decrease compared to the prior year. Barnes & Noble store sales decreased 4.4% to $971 million, with comparable-store sales decreasing 7.4% for the quarter.
The third quarter net loss was $18.4 million or 34 cents per share.
“A significant drop off in customer traffic and consumer spending impacted our business in the third quarter,” said Steve Riggio, ceo of Barnes & Noble. “In a challenging environment with a comparable-store sales decline of 4.6% this year, the company has aggressively managed expenses to operate profitably. Furthermore, the company is taking measures to reduce expenses for the balance of this year and next.”
For the fourth quarter, the company expects comparable-store sales at Barnes & Noble stores to decline 6% to 9%. Fourth quarter earnings per share is expected to be in a range of $1.40 to $1.70. For the full year, the company now expects comparable-store sales at Barnes & Noble stores to decline 5% to 6%. Full year earnings per share is expected to be in a range of $1.30 to $1.60, compared to previous guidance of $1.70 to $1.90.
Dollar General pushes back Thanksgiving sales
GOODLETTSVILLE, Tenn. Dollar General announced that it will offer holiday deals a full weak ahead of the traditional Thanksgiving holiday shopping weekend.
Starting the Sunday before Thanksgiving, customers will find special savings on items such as DVD players, holiday decorations and gaming systems.
Promotions will continue during the Thanksgiving weekend with deals on cell phones, jeans and MP3 players.