OPERATIONS

Report: Carrefour seeks CEO

BY Staff Writer

New York City — French retailer Carrefour is in advanced talks to replace its CEO, according to The New York Times.

The board of the company is talking with Georges Plassat to replace its current CEO, Lars Olofsson, the report said. Plassat is chief executive of Vivarte, the Paris-based owner of retail clothing chains and shoe stores including Kookai, Chevignon and Naf Naf.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
OPERATIONS

7-Eleven acquires 55 Sam’s Mart stores in Carolinas

BY Marianne Wilson

Dallas — 7-Eleven has entered into an agreement with Sam’s Mart LLC to acquire 55 Sam’s Mart stores in North and South Carolina and convert them to 7-Eleven stores this year. Local contractors will be hired for the remodeling program to begin later this year.

The transaction is anticipated to close in February, subject to standard closing conditions and regulatory approvals. Terms of the deal were not disclosed.

The acquisition is part of the retailer’s accelerated growth plan. 7-Eleven opened some 650 stores in the United States and Canada in 2011.

"Sam’s Mart has a successful store operation and quality locations that fit our strategy to expand where we have existing stores or in areas near markets where we have operations," said Stan Reynolds, 7-Eleven executive VP and CFO.

Sam’s Mart LLC will continue to operate its other 91 stores in the Charlotte and Atlanta metro areas and retain its office personnel.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Starbucks Q1 profit up 10%

BY Marianne Wilson

Seattle — Starbucks Corp. reported that its fiscal first-quarter profit rose 10% for the quarter ended Jan. 1, 2012. But the company issued a modest forecast for the year that was slightly below Wall Street expectation, citing ongoing struggles with higher costs for coffee beans, dairy products and other ingredients.

Starbucks said revenue grew 16% to $3.44 billion with growth from all its business lines. It was the largest quarterly gain since 2007. It attracted new customers by adding stores in China and Morocco, upgrading locations in the United States and rolling out single-serve coffee and other new items at grocery stores. Same-store sales were up 9%.

"Our first quarter performance represents the highest quarterly earnings in the history of the company, and is a testament to the hard work and commitment of our 200,000 partners (employees) around the world. Starbucks is firing on all cylinders and taking full advantage of the many global opportunities that lie ahead," CEO Howard Schultz said in a statement.

Starbucks added 241 new stores during the quarter. It now operates 17,244 stores worldwide, with plans to open another 800 in the coming year.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...