Starbucks debuts new logo
New York City — Starbucks unveiled a new logo Wednesday, dropping the circle with the words “Starbucks” and “Coffee” that surround its signature mermaid.
Starbucks, celebrating its 40th anniversary this year, said the changes represent a fresh look for the company as it begins the next chapter in its history and emphasizes selling Starbucks-brand products in supermarkets and other channels beyond its retail stores.
“Throughout the last four decades, the Siren has been there through it all," Howard Shultz, Starbucks’ president and CEO, said in post on the company’s website Wednesday. "Now, we’ve given her a small but meaningful update to ensure that the Starbucks brand continues to embrace our heritage and also ensure we remain relevant and poised for future growth.”
The company says its brand has become so widely recognized that it no longer needed to reinforce its name at every turn. And the wordless logo is also better suited to the company’s expansion beyond coffee into a wider range of business lines and into international markets.
Click here to see the new logo.
Saks to close Denver store
New York City — Saks on Wednesday announced it plans to close its Saks Fifth Avenue store located in the Cherry Creek Mall in Denver, Colo., on March 19. With the closing, the company will have closed seven Saks Fifth Avenue stores since July 2010.
Steve Sadove, chairman and CEO of Saks, commented: “We routinely assess the productivity, profitability, and potential for each store in our portfolio and may conclude a closing is appropriate from time to time. Our strategy is to deploy our resources in our most productive stores and to close underperforming stores, when feasible.”
Shaw’s Supermarkets to close five underperforming locations
West Bridgewater, Mass. — Shaw’s Supermarkets has announced that it will close five unprofitable stores in Massachusetts and Rhode Island by the middle of next month.
The company said in a statement that it decided "only after careful evaluation" to close the stores. The Massachusetts stores are in New Bedford, Stoneham and Revere. The Rhode Island locations are in Johnston, and on Bald Hill Road in Warwick.
The stores will be closed by Feb. 17.
The statement said the closings are the result of "the competitive markets we operate in, and today’s difficult economic environment."