Sports Authority Files for Bankruptcy; Online Shopping Cited
Fans coveting their favorite team’s jersey with the personal touch of their name on the back are flocking online, likely not to the sports store at their local mall. Consumer habits are evolving. That looks to be one of the developments behind the financial travails of retail chains like The Sports Authority Inc., which filed for Chapter 11 bankruptcy protection Wednesday and plans to close or sell about a third of its 463 stores. The...
The Business of Agriculture: Plant businesses big and small are firing up for the growing season
Setting out petunias in the flower beds and starting tomato and pepper plants in the vegetable garden may seem a long way off here in February, but in New Hampshire and Vermont greenhouse operations, the spring season already is well underway. Propane-fired heaters are roaring, seeds are being placed in growing media and tiny seedlings of some species already are emerging as growers prepare for the sales rush that will begin as soon...
Starbucks Reports Holiday Growth
Retailer after retailer has announced in recent weeks that they saw tepid or downright disappointing sales during the crucial holiday season. And then came Starbucks, dropping a blockbuster earnings report on Thursday that stands out as a clear bright spot in retail. The coffee giant reported that revenue soared 12 percent to a record $5.4 billion. Sales at its U.S. restaurants open more than a year were up 9 percent, and nearly half...
Retailers Want You to Shop
Have you thought of buying a new outfit, adding a little spark to your home, or treating yourself in some way? If so, store managers are hoping you don’t chicken out on that purchase. The stock market plunge this year is keeping them awake at night. They are afraid it will spook you and keep you out of stores just when they need you the most. After a demoralizing holiday shopping season, with even giants like Macy’s, Nordstrom and...
Krispy Kreme Pushes Into Starbucks’ Turf With Focus on Coffee
Krispy Kreme Doughnuts Inc., facing slower sales growth and more demanding customers, is pushing deeper into Starbucks Corp.’s territory. The company is doing more to promote its coffee, which for years was an afterthought at the doughnut chain. At a test location in Clemmons, N.C., workers are grinding beans and using a manual espresso machine to make lattes and cappuccinos. They’re even referring to themselves as baristas, and...
