Starbucks cautious on 2008, closing 100 stores
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Starbucks Corp  said on  Wednesday it is closing 100 underperforming U.S. stores and  slowing domestic openings in the face of a likely consumer  recession and 'cannibalization' from overbuilding.
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Saks Fifth Avenue Enterprises plans to close its Off 5th store in the 100 Oaks Mall in Nashville. The closure is one of three Off 5th locations the company is shuttering, along with eight of its Saks Fifth Avenue stores.
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BOSTON  Â Talbots will close its 78 childrenâs and menâs apparel stores to focus on its core middle-age female customer, the company said Friday.
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In response to an increasingly difficult retail environment, Sprint Nextel says about 4,000 employees will be laid off and about one out of every eight retail stores will close.
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NEW YORK - Retailer Saks Inc. Friday said it will close its Saks Fifth Avenue upscale department stores in La Jolla and seven other locations and three of its lower-price Off 5th stores, affecting 700 jobs.
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Shares of coffee shop owner  Starbucks Corp. SBUX.O fell more than 8 percent on Thursday,  a day after the company reported monthly same-store sales that  fell short of many analysts' expectations.
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The case for a losing year in 2008 for this leading electronics retailer.
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Starbucks Corp.'s  chief financial officer on Thursday said meeting the high end of the coffee shop chain's 2007 earnings forecast will be "very challenging" due to rising dairy costs and slowing growth in its U.S. business, sending shares to a 20-month low.
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MANAGUA, Nicaragua  - Starbucks' purchases of its   own Cafe Practices certified coffee will grow strongly in the   2007 fiscal year, a senior company official said on Monday.
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Dell said on Wednesday it would  close all of its 140 U.S. kiosks, a concept it launched in 2002  to showcase computers, as it expands sales of PCs in retail  stores.
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Palm plans to close its retail stores in an effort to focus on fewer programs and better compete, the company said on Thursday.All of Palm&#39;s eight branded retail stores, as well as its 26 stores within Airport Wireless shops, will close.The move may stem from increased competition from Research In Motion&#39;s BlackBerry products. Prior to about a year ago, BlackBerry dominated the enterprise market and Palm was popular among prosumers, who typically buy devices in retail outlets, said Bill Hughes, an analyst at In-Stat. But since then, BlackBerry has grown more successful at selling its handhelds at retail, encroaching on Palm&#39;s traditional prosumer market, he said.The stores didn&#39;t make much sense for Palm from the beginning, according to Hughes. &quot;This doesn&#39;t really surprise me,&quot; he said. Usually, manufacturers open their own stores when their retail distribution strategy isn&#39;t working, he said. But Palm has reported a string of quarterly losses and may have decided to close the stores and boost its efforts to sell through other retail outlets as a way to cut costs.Palm said the store closings come as the company continues to focus on core business initiatives, consolidating resources behind fewer programs. For a similar reason, it&#160;cancelled its controversial smartphone companion product, the Foleo, that was scheduled for release in the middle of 2007.Palm has struggled over the past couple of years as the smartphone market grows increasingly crowded, and as it tries to phase out its PDA (personal digital assistant) business. The company is building a new Linux-based operating system that is scheduled to be released at the end of this year, with commercial products hitting the market shortly after. The software, which many thought would hit the market at the end of last year, will compete with&#160;Google&#39;s Android Linux-based smartphone operating system. Phones based on Android are expected to ship starting in the second half of this year.
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BOSTON  â Talbots will close its 78 childrenâs and menâs apparel stores to focus on its core middle-age female customer, the company said Friday.
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Starbucks&#39; (SBUX:Nasdaq - news - research) sales slowed a bit in August, but still came in above the coffee shop chain&#39;s long-term targets.
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Starbucks Corp. (SBUX.O: Quote, Profile, Research) said on Monday it now owns 100 percent of its German operations after buying KarstadtQuelle AG&#39;s (KARG.
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Giant Food is preparing to close five of its older stores in the Maryland suburbs and Northern Virginia to make way for a new generation of ramped-up Super Giant stores.
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Saks Inc. stated Friday that it will close 11 stores in seven states, affecting 700 workers. The chain, with headquarters in Birmingham and almost 390 stores nationwide
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Starbucks Corp. shares sank nearly 10 percent Thursday, a day after the coffee retailer said it was retooling some store operations to improve service in the wake of slower sales growth in July.