Retail news
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Starbucks cuts jobs and stores
- Posted:
- 29 January 2009 09:27
Starbucks has said that it will be closing 300 stores and cutting 6,700 jobs as profits for the last three months of 2008 plunged 69%. The announcement comes on the back of an additional 661 store closures announced in 2008. Two-thirds of the closures will be in the company's home ...read more
Profits plummet at Starbucks
- Posted:
- 13 November 2008 09:25
Fourth quarter profits plummeted at Starbucks, falling from $158 million to $5.4 million. Same-store sales were down by 8%. Comparable store sales at the group's international division were flat for the fourth quarter "primarily resulting from a decline in traffic in the UK, along with continued softer sales in Canada". Total ...read more
Starbucks to close 61 Australian outlets
- Posted:
- 01 August 2008 09:47
Starbucks is planning to shut 61 of its 85 stores in Australia. The coffee chain opened its first store in Australia in 2000 but has faced stiffed competition. Around 700 jobs will be lost. However, reiterating the group's expansion plans, founder Howard Schulz said: "As I have stated in previous ...read more
Starbucks ups closure plans
- Posted:
- 02 July 2008 09:50
Starbucks has announced that it is to close 500 stores in its domestic US market on top of the 100 already announced. It is thought that up to 12,000 Starbucks workers may lose their jobs as the company cuts 5% of its US outlets. Chief executive Howard Schultz called the move ...read more
Sears chief steps down as profits tumble
- Posted:
- 29 January 2008 09:11
The chief executive of Sears Aylwin Lewis is to step down in a dramatic restructure of the group. Bruce Johnson, head of operations and supply chain, will serve as interim chief executive. The retailer, which is the third largest in the US and was formed by the merger of Sears ...read more
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