Finance & Capital Management

One day after announcing a general salary increase for all U.S. corporate store employees, Starbucks Corp. is preparing to increase some prices.   As of July 12, Starbucks made what it calls a “small price adjustment” in U.S. company-operated stores. Depending on the market, customers will experience increases of 10 to 20 cents on select sizes of brewed coffee, and 10 to 30 cents on espresso beverages and tea lattes.  

7-Eleven has set itself new energy conservation goals.       The world’s largest convenience store chain, in collaboration with Conservation International, has committed to reducing its energy footprint in stores by 20% by 2025, and also reducing its packaging footprint by 20% by 2025.    

Specialty pet retailer Pet Supplies Plus is entering three new states as part of an aggressive 2016 expansion plan.   The chain is entering California, Colorado and Oklahoma, as well as furthering its expansion in the states of New Jersey, Texas, Missouri, Iowa and Georgia. In addition, Pet Supplies Plus recently signed a deal to open 10 new stores in Kansas City, and is on target to open approximately 60 new stores by the end of the year.  

Bob Mariano, CEO of the Roundy’s Supermarkets Inc. division of The Kroger Co., will retire effective Sept. 1, 2016.   After retiring, Mariano will serve as strategic adviser to Kroger and Roundy's for two years. Don Rosanova, president of Mariano's, and Michael Marx, president of Roundy's Supermarkets Wisconsin, will continue to serve in their current roles leading the two supermarket divisions.  

After two years of benefitting from gasoline price tailwinds, still-stressed consumers will generate only a sluggish 3.3% year-over-year increase in this year’s back-to-school sales, according to Customer Growth Partners’ 14th Annual BTS Forecast.    Total BTS sales for the season will reach $540 billion — a new record, but the lackluster 3.3% growth represents a marked slowdown from the 4%-plus BTS growth seen in both 2014 and 2015, when sales were boosted by declining gasoline prices.  

Two mid-sized U.S. and Canadian chains are joining forces to create the third-largest pet specialty retailer and the largest small format, neighborhood specialty pet retailer in North America   Pet Valu and Pet Supermarket have merged to create a combined business named Pet Retail Brands. With more than 930 stores, it is expected to generate approximately $1 billion in system-wide retail sales across the U.S. and Canada. Pet Retail Brands will have stores from the East Coast to the West Coast and from Miami to Vancouver.  

The end of summer is often a sad time, but workers at U.S. Starbucks stores have more to look forward to with the coming of autumn than football and the changing of leaf colors.   Effective Oct. 3, 2016, the coffee retailer is giving all employees and managers in U.S. company-operated stores an increase in base pay of 5% or greater. The range of increase will be determined by geographic and market factors.  

A shift in the timing of a major holiday was cause for celebration at home furnishings retailer Havertys Furniture Companies Inc.   Sales in the second quarter of fiscal 2016 at Havertys rose 4% to $194.8 million, from $187.7 million the same period a year earlier. Same-store sales increased 2.8%. Written total and same-store sales for the second quarter both rose 6%.