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Starbucks raises forecast on strong sales; opening 1,300 stores in 2013
Seattle -- Starbucks Coffee Co. reported a higher-than expected net income of $359 million for its fourth quarter, compared with $358.5 million in the year-ago period. The company also raised its earnings estimate for the next fiscal year.
Revenue rose 11% in the fourth quarter, to $3.36 billion. Same-store sales rose 6%, fueled by higher customer traffic.
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7-Eleven closes deal to purchase 163 Tetco stores
Dallas -- 7-Eleven announced that it has acquired the retail and wholesale dealer assets of San Antonio-based Tetco, closing a deal that was announced Aug. 14.
The assets include 163 company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.
Terms of the deal were not disclosed.
The acquisition signals a return to San Antonio for 7-Eleven, where the company had operated stores until 1989.