REAL ESTATE

Starbucks, Disney to partner on six stores

BY Dan Berthiaume

Seattle – Starbucks Coffee Company and the Disneyland Resort will open a new company-owned Starbucks location at Downtown Disney in Anaheim, Calif. This store will be the first of four to be operated by Starbucks across Disney properties in the U.S.

Specific attractions of the store will include the story behind Starbucks coffee projected across a 10-ft. video installation and an interactive touch screen. In addition, this sustainably built to LEED standards location will include an outdoor patio designed around a native tree, reclaimed wood siding and a living, green wall with more than 1,000 plants in the shape of a coffee cup that serves as a backdrop to capturing memories for visiting guests.

“This store is a reflection of two iconic brands coming together to offer their customers the kind of high quality experience they expect in a way that embodies the unique passion of each,” said Arthur Rubinfeld, chief creative officer and president, global innovation for Starbucks. “Collaborating with Disney offered us the opportunity to create a unique moment of connection for our customers in a way that evokes the magic that their guests expect.”

Starbucks and Disney will bring five more Starbucks locations to guests, including: one additional Starbucks-operated location in Downtown Disney at Disneyland Resort, two Starbucks-operated locations at Downtown Disney at the Walt Disney World Resort and two Disney-operated locations at Disney’s Animal Kingdom and Disney Hollywood Studios at the Walt Disney World Resort.

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FINANCE

Report: Sbarro files for bankruptcy

BY Dan Berthiaume

Melville, N.Y. – Sbarro LLC has reportedly filed for Chapter 11 bankruptcy protection for the second time since 2011. According to Reuters, Sbarro wants to reduce its debt by 80% via a pre-packaged reorganization that would allow it to exit bankruptcy before May 7, 2014.

Most of Sbarro’s creditors reportedly support the plan, which it said is necessitated by declining mall traffic and an unsustainable balance sheet. The plan requires court approval and Sbarro will reportedly also seek better offers from potential buyers.

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FINANCE

J.C. Penney execs left without severance

BY Dan Berthiaume

Plano, Texas – Two major J.C. Penney Co. Inc. executives who left the company in April 2013 did so without receiving severance pay. According to a regulatory filing from Penney, neither former CEO Ron Johnson nor former chief talent officer Daniel Walker were paid any severance when they left the retailer.

Johnson was fired and Walker resigned. Former COO Michael Kramer received a reduced termination fee of about $2 million when he resigned in April 2013. Johnson, who hired both Walker and Kramer, came on board at Penney in November 2011 and saw the company’s sales drop 25% during 2012.

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