For the better part of this week, Krispy Kreme was silent on whether the rumors that the company would lay off workers and move its headquarters from Winston-Salem to Charlotte, NC. Well, at long last, the JAB owned company acknowledged that it will lay-off 90 employees from its headquarters, which will remain in Winston-Salem, but…
Read More »If they were shooting for the Boston Tea Party anniversary, they missed! Patriots in revolutionary New England dumped 342 chests of tea overboard from 3 British ships to protest the Tea Act on December 16, 1773. Starbucks announced it was closing all 379 of its Teavana stores across the country back in July of this…
Read More »Two different court actions are notable this week as shopping center giant Simon Property Group filed a lawsuit against Starbucks over the company’s decision to close all 379 of its Teavana stores. According to the court action, 78 of those stores are in Simon malls and would constitute breach of their leases if the company…
Read More »It was bad news all around relative to the restaurant industry economy in the month of July, as both same store sales and traffic both dropped in the height of the summer months and the growth in average ticket slowed to a trickle during the month. SSS fell 2.8 percent during the month, down 1.8…
Read More »Starbucks announced yesterday that it will close all 379 of its Teavana stores over the course of the next year, with many of the underperforming units closing as early as next spring. Additionally, the company has announced that it will purchase the remaining 50 percent stake in its East China joint venture for $1.3 billion…
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