FINANCE

Starbucks same-store sales up in Q1

BY CSA STAFF

Seattle Starbucks reported revenue for its fiscal first quarter ended December 27, 2009, increased 4% to $2.7 billion. Same-store sales increased 4% driven by a 1% increase in traffic and a 4% increase in average ticket.

Solid same-store sales, combined with its continuing focus on controlling operating costs, drove significant operating margin improvement in both its U.S. and international business segments.

“Continued innovation, the successful enhancement of the customer experience and a transformed, more-efficient cost structure have brought Starbucks to a significant milestone — a return to profitable growth,” said Howard Schultz, chairman, president and CEO.

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New execs named at Cabela’s

BY CSA STAFF

SIDNEY, Neb. Cabela’s has announced a series of executive promotions.

The six promoted executives are Patrick Snyder, Brian Linneman, Ralph Castner, Joseph Friebe, Charles Baldwin and Michael Copeland.

 

 

Patrick Snyder, formerly SVP of merchandising and marketing, has been promoted to EVP and chief marketing officer. Under Snyder’s leadership, the company is consolidating responsibility for its e-commerce and catalog businesses. He will continue his current responsibilities for market research/analysis, retail advertising, brand management and media relations.

 

Brian Linneman, formerly SVP global supply chain and operations, has been named EVP and chief merchandising officer. Linneman will be responsible for merchandising, planning, inventory, visual merchandising and strategic planning/process improvement.

 

Ralph Castner has been named EVP and CFO of Cabela’s and chairman of the board of World’s Foremost Bank. Previously VP and CFO, and chairman of the board of World’s Foremost Bank, the company’s wholly-owned bank subsidiary, Castner will continue his current responsibilities for finance, accounting, investor relations, tax, internal audit, legal, and risk management. He will also take on responsibilities for real estate, construction and facilities.

 

Joseph Friebe has been promoted to EVP of Cabela’s and president and CEO of World’s Foremost Bank. Previously VP, and president and CEO of World’s Foremost Bank, Friebe will continue to lead World’s Foremost Bank.

 

Charles Baldwin, formerly, VP and chief human resources officer, has been named EVP and chief administrative officer. Baldwin will continue his current responsibilities for human resources and take on responsibilities for information systems, call centers and the company’s outdoor adventures division.

 

Michael Copeland has been named EVP and COO. Previously VP of retail operations, Copeland will continue his responsibilities for retail operations in the United States, as well as asset protection, and will take on responsibilities for operations in Canada.

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B&N donates 1.1 million books

BY CSA STAFF

NEW YORK Barnes & Noble announced that it collected and donated more than 1.1 million books for children in need all over the country during its 2009 Holiday Book Drive. In addition, Barnes & Noble donated another 150,000 books to students in the New Orleans School District through Reader to Reader, a non-profit organization that distributes books to schools and libraries in need, and 50,000 to Toys for Tots, which collects and distributes toys as Christmas gifts to needy children.

“The Barnes & Noble Holiday Book Drive could not succeed without the passion of our booksellers and generosity of our customers,” says Sarah DiFrancesco, director of community relations. “This is a holiday tradition for us and what a great opportunity for our stores and customers to come together to donate new books for children in the community who really need them.”

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