FINANCE

Starbucks raises forecast on strong sales; opening 1,300 stores in 2013

BY Marianne Wilson

Seattle — Starbucks Coffee Co. reported a higher-than expected net income of $359 million for its fourth quarter, compared with $358.5 million in the year-ago period. The company also raised its earnings estimate for the next fiscal year.

Revenue rose 11% in the fourth quarter, to $3.36 billion. Same-store sales rose 6%, fueled by higher customer traffic.

“Our Q4 and overall 2012 fiscal year performance demonstrates the strength of our business and brand,” said Howard Schultz, chairman, president and CEO, Starbucks. “The resiliency and relevance of our U.S. retail business, acceleration of the Channel Development business and expansion in Asia all contributed significantly to our strong results.”

The company said it was accelerating its store growth target for fiscal 2013 through the opening of approximately 1,300 net new stores globally, representing 22% growth over fiscal 2012. In the China/Asia Pacific region, it is adding approximately 600 net new stores, with licensed stores comprising approximately half of the new additions. Of the approximately 600 stores, slightly more than half will be in China.

Starbucks is maintaining its growth target of approximately 600 net new stores in the Americas, with the majority of those in the U.S. Of the approximately 600 stores, approximately half of the additions will be licensed stores.

For the fiscal year ended Sept. 30, net revenue at Starbucks grew 14%, to $13.3 billion. Earnings grew 10%.

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Dec-04-2012 02:00 pm

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The company said it was accelerating its store growth target for fiscal 2013 through the opening of approximately 1,300 net new stores globally, representing 22% growth over fiscal 2012. In the China/Asia Pacific region, it is adding approximately 600 net new stores, with licensed stores comprising approximately half of the new additions. Of the approximately 600 stores, slightly more than half will be in China. free business advertising online

T.Stone says:
Dec-04-2012 02:00 pm

The company said it was accelerating its store growth target for fiscal 2013 through the opening of approximately 1,300 net new stores globally, representing 22% growth over fiscal 2012. In the China/Asia Pacific region, it is adding approximately 600 net new stores, with licensed stores comprising approximately half of the new additions. Of the approximately 600 stores, slightly more than half will be in China. free business advertising online

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OPERATIONS

Target unveils holiday gift card assortment; includes digital option

BY Marianne Wilson

Minneapolis — Target Corp. unveiled its lineup of gift cards for the upcoming holiday season. The expanded assortment, which include traditional gift cards with holiday and multicultural designs, and digital options, will be available in stores on Nov. 4

For the first time, the gift card displays in Target stores will offer guests the opportunity to send a digital gift card. Guests can scan the QR code on the display to electronically send a gift card directly to the recipient. Additionally, mobile gift cards allow guests to send gift cards digitally to another phone or email address anytime from Target.com or the Target app.

Recipients of any Target GiftCard – physical or digital – can create a Target Mobile GiftCard by saving the card’s barcode to their Target account. To redeem the value, guests can access the barcode with a mobile phone and present it at the register to be scanned.

Select holiday gift cards will also have a QR code on the back that links to an online game called “Santa’s Sleigh Ride.”

Target’s Wow! holiday gift cards have extra features, such as lights, sound and motion. One, for example, features a bear wearing a light-up Christmas sweater.

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Feb-27-2013 09:06 pm

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OPERATIONS

7-Eleven closes deal to purchase 163 Tetco stores

BY Staff Writer

Dallas — 7-Eleven announced that it has acquired the retail and wholesale dealer assets of San Antonio-based Tetco, closing a deal that was announced Aug. 14.

The assets include 163 company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.

Terms of the deal were not disclosed.

The acquisition signals a return to San Antonio for 7-Eleven, where the company had operated stores until 1989.

Because of the combination of Tetco’s retail and wholesale operations this is 7-Eleven’s largest acquisition since the company accelerated its growth plan four years ago. As part of this purchase, 7-Eleven is acquiring Tetco’s motor fuel wholesale-dealer business with some 500 customers. The company plans to retain and build the wholesale gasoline business as an integral part of 7-Eleven’s overall growth strategy.

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