Report: Starbucks to Pull CD Floor Racks
Seattle Starbucks plans to remove its rotating CD racks from the floors of 6,500 stores in the U.S. and Canada by September, according to the Seattle Times.
The coffee chain will instead focus on four CDs for sale near cash registers.
“It’s an opportunity to focus on a small number of titles and tell those stories well,” said Doug Cavarocchi, a Starbucks spokesman.
The company slashed its music and entertainment division this spring, ousting entertainment chief Ken Lombard and moving day-to-day management of its joint venture Hear Music record label to Concord Music Group, the report said.
Bed Bath & Beyond posts 1Q earnings drop
UNION, N.J. Bed Bath & Beyond has reported net earnings of 30 cents per diluted share ($76.8 million) in the fiscal first quarter ended May 31, compared with net earnings of $.38 per diluted share ($104.6 million) in the same quarter a year ago.
Net sales for the fiscal first quarter of 2008 were approximately $1.65 billion, an increase of approximately 6.1% from net sales of $1.55 billion reported in the fiscal first quarter of 2007. Comparable-store sales for the fiscal first quarter of 2008 increased by approximately 0.8%, compared with an increase of approximately 1.6% in last year’s fiscal first quarter.
New site launches for Wal-Mart Marketside
BENTONVILLE, Ark. Wal-Mart has launched a new site for its Marketside concept at www.marketside.com.
The site includes information about the concept, which Wal-Mart said offers “a wide selection of complete meal solutions, fresh ingredients, and everyday favorites at affordable prices — all in one easy-to-shop store.” In addition, the site provides information on how to apply to positions within the stores and where the stores are located.