FINANCE

Starbucks’ Q2 profit tops estimates

BY Marianne Wilson

Seattle — Starbucks Coffee Company reported that its second-quarter profit rose 26% to $390.4 million, up from $309.9 million last year, amid sales increases in the Americas and Asia regions.

Total net revenue for the quarter ended March 31, 2013, rose 11% to $3.56 billion, not quite the $3.58 billion Wall Street expected. Global same-store store sales grew 6%, driven by a 4% increase in traffic and a 2% increase in average ticket, marking the 13th consecutive quarter of global comp growth greater than 5%.

Same-store sales increased 6% in the Americas region and 8% in China and Asia Pacific. In Europe, it fell 2%.

Starbucks added 590 net new stores globally in the quarter. The company plans to open approximately 1,650 net new stores globally, reiterating the previous target of 1,300 Starbucks locations and including 350 Teavana stores acquired and to be opened in the year

"Starbucks record operating performance in Q2 continues to demonstrate the underlying strength and resilience of our expanding global business, and the increasing relevance of the Starbucks brand to consumers all around the world,” said Howard Schultz, chairman, president and CEO. “Innovation and an enhanced customer experience drove strong comp sales and revenue growth, while a laser focus on improving efficiency and controlling costs enabled us to deliver record margins and earnings. Starbucks has never been better positioned to achieve the aspirational goal we have set of becoming one of the world’s most respected, admired and enduring brands.”

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News

JCP to debut Bijoux Bar jewelry collection

BY CSA STAFF

PLANO, Texas — J.C. Penney is introducing the Bijoux Bar, a line of fine jewelry that features collections from Kenneth Jay Lane, Kara Ross, Lana Bramlette, Dominique Cohen, Doris Panos, Rodrigo Otazu and Diego Massimo.

The Bijoux Bar will showcase each designer’s collection on black fixtures within the fine jewelry department. The Bijoux Bar at JCP will debut in 650 stores on April 28 with representation from each collection already available on jcp.com. Ranging in price from $30 for hexagon disc earrings designed by Lana Bramlette to $395 for a special occasion necklace designed by Kenneth Jay Lane, the average piece in the Bijoux Bar retails for $65.

"The Bijoux Bar at JCP will be unlike anything we’ve ever offered. For the first time, J.C. Penney customers will be able to shop an affordable selection of high quality fashion jewelry from designers who are typically found in high-end department stores," said Pam Mortensen, SVP and general merchandise manager of fine and fashion jewelry. "At the Bijoux Bar, there will be something for women of every age, for every occasion and for every sense of style."

Kenneth Jay Lane has designed jewels worn by celebrities for more than 40 years. In his latest collection, KJL by Kenneth Jay Lane, the designer has created more than 80 styles of necklaces, bracelets, earrings and rings featuring plated brass, glass and resin. Pieces range from $35 to $150. Kenneth Jay Lane will also offer a second collection at the retailer called CZ by Kenneth Jay Lane. This special occasion line offers more than 65 styles of sparkling cubic zirconia jewelry priced from $55 to $395.

"I’ve always designed with the philosophy that elegance, good taste and luxury never go out of style. I like to create jewelry that can be worn by any woman and through my partnership with J.C. Penney, I was inspired to create a line that makes extraordinary design attainable for all," said Lane.

As a certified gemologist, Kara Ross uses raw precious stones and diamonds throughout her collections, often seen on celebrities. Her newest line, 10021 Kara Ross, uses these gems as inspiration and is created from 18-karat gold-plated brass, glass and resin featuring an ice blue and sea green. The collection offers more than 40 styles of necklaces, bracelets, cuffs, earrings and rings priced from $45 to $225.

Celebrity-favorite Lana Bramlette has designed a city-inspired collection exclusively for the Bijoux Bar. Downtown by Lana features more than 60 fashion-forward styles with highly polished plated brass and crystals. Priced from $30 to $75, the collection includes necklaces, earrings and bracelets.

While her high-end designs are often seen in TV, film and the red carpet, Dominique Cohen has created an affordable, exclusive line offering lifestyle pieces for women of all ages called dom by dominique cohen. The collection features more than 60 styles of necklaces, bracelets, earrings and rings created from plated brass, glass pearls, custom dyed hand torn silk ribbons and custom cut gems. Prices range from $30 to $95.

The Bijoux Bar also features additional exclusive designer collections including Telio! by Doris Panos, fashion jewelry with a Mediterranean twist priced between $45 and $130; Rodrigo-Brave, designed by Rodrigo Otazu and inspired by art, music and different cultures priced between $55 and $395; and Diego Massimo, Italian jewelry priced between $75 and $195. While most of the lines in the Bijoux Bar will be available in 650 J.C. Penney stores, Rodrigo-Brave will be in 150, 10021 Kara Ross will be in nearly 450 and Diego Massimo will be in more than 250.

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REAL ESTATE

Waffle restaurant expands presence with Strand on 5th unit

BY Katherine Boccaccio

Huntington Beach, Calif. — Bruxie announced that it opened its fifth waffle restaurant, with a new unit in Southern California in Huntington Beach on April 23.

Bruxie Gourmet Waffles opened at The Strand on 5th, a collection of shops and restaurants, boutique hotel and office space. Other key retail tenants to the coastal attraction include RA Sushi, Forever 21, Skechers, Active Ride, Rip Curl, Merrilee’s Swimwear, Johnny Rockets, ANGL, and CVS Pharmacy.

Dean Simon and Kelly Mullarney opened their first Bruxie location in 2010 in Old Towne Orange, and a second location one year later on the Birch Street Promenade in Brea Downtown. Bruxie’s third location opened in Rancho Santa Margarita in May 2012 and, most recently, a fourth restaurant opened at The Shoppes at Chino Hills in November 2012.

The Huntington Beach restaurant features more than 90 seats of combined indoor and outdoor seating, and debuts the chain’s first Bruxie Streetside walk-up window.

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