Starbucks to match employee 401(k) contributions
Seattle Starbucks announced on Monday that it will make matching contributions to 401(k) retirement plans for its 2009 plan year.
In December 2008, Starbucks made its 401(k) match discretionary, to be based on the company’s performance over the year.
“Our progress over these past few months has given us the opportunity to fund the company discretionary match for the 2009 plan year,” said Howard Schultz, president, chairman and CEO.
The company also announced that it will fund merit increases for eligible employees for fiscal 2010, and that it will continue to provide comprehensive and affordable healthcare benefits to all eligible workers.
Amazon.com 2Q profit down
SEATTLE Amazon.com announced that its net income for the second quarter decreased 10% to $142 million in the second quarter, or 32 cents per diluted share, compared with net income of $158 million, or 37 cents per diluted share, in second quarter 2008.
Net sales increased 14% to $4.65 billion in the second quarter, compared with $4.06 billion in second quarter 2008.
Amazon.com, which has grown to be much more than an online book seller, saw sales in worldwide electronics and general merchandise grow 35% in the second quarter. Worldwide Media sales grew 1% to $2.44 billion.
For the third quarter, Amazon.com said it expects net sales to be between $4.75 billion and $5.25 billion, or to grow between 11% and 23% compared with third quarter 2008.
Operating income is expected to be between $120 million and $210 million, or between 22% decline and 36% growth compared with third quarter 2008.
‘New Moon’ rises at Nordstrom
Nordstrom is getting in on the “Twilight” craze by launching a new collection inspired by the upcoming film, New Moon.
InStyle reported that the Nordstrom line, available in stores Oct. 15, will include jackets, tees, jewelry and other items featuring themes from the popular vampire series. More girly than goth, the collection even gives fans the opportunity to express their support for the vampire Edward or the werewolf Jacob.
Other merchandise related to New Moon likely will hit stores soon, as the film promises to be one of the bigger blockbusters of the year.