Starbucks returns to growth, will open 100 U.S. locations in 2010
Seattle Starbucks has upped its outlook based on a strong first quarter. During the first quarter, the coffee retailer earned $241.5 million, compared with $64.3 million. And after nearly three years of retrenchment, the company is returning to a growth mode. It plans to open about 100 new U.S. locations during its current fiscal year, along with 200 international sites.
For the quarter, sales rose 4% to $2.72 billion from $2.62 billion last year, while same-store sales grew 4%. It marked the first time Starbucks has experienced an increase in comparable sales gain since 2007.
“We’re extremely pleased with the progress we’ve made in this period of time,” CFO Troy Alstead told The Associated Press. “We’ve come a long way in the U.S.”
Starbucks also announced that it is making its debut in the European ready-to-drink (RTD) coffee market through a deal with Arla Foods, the world’s largest coffee chain. Arla will manufacture, distribute and market Starbucks-branded premium RTD coffee beverages in Europe.
Safeway promotes ‘The Market’ with swag
SAN JOSE, Calif. Safeway announced that it is promoting its new “The Market by Safeway” store concept in San Jose, Calif., by hosting a three-day “Swag-apalooza event on the San Jose State University campus Jan. 26 to Jan. 28.
Brand ambassadors for The Market will be on campus to inform students about its products and services, the company reported. Students will also have the chance to win such prizes as free pizza, energy drinks and $10 gift cards. Brand Ambassadors will also distribute free music download cards as well as offer students a chance to to win a 50” flat screen TV, Xbox, futon and mini-fridge stocked with food.
The Market was introduced in August, 2009 and occupies 24,000 square feet on the ground floor of The 88 apartment tower, at 2nd and San Fernando in San Jose, Calif.
Best Buy promotes TV deals
MINNEAPOLIS Best Buy this week is promoting deals on televisions and other home theater products.
With the Super Bowl coming soon, Best Buy announced that, through Feb. 6, it is offering the Samsung 46-inch 1080p LED TV (Model: UN46B6000VF) for $1,599.99 — a savings of $900.00. And this week only, customers looking for a complete home theater make-over can purchase that Samsung 46-inch 1080p LED TV, along with a Samsung soundbar and WiFi Bluray player, Rocketfish HDMI cable, and Geek Squad installation for only $1,999.99 — a savings of more than $1,400.00. Both offers, as well as any TV over $999.00, are eligible for three-year financing, free delivery and free recycling.
“For decades, Best Buy has delivered a superior viewing experience for sports fans looking to enjoy game day from the comfort of their living rooms,” says Josh Will, vice president of Home Theater, Best Buy. “We offer in-home consultation, superior product selection and installation services, as well as some of the best values in the industry to give our customers a home theater experience that fits their individual needs.”