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Starbucks ramping up Southeast Asia growth with 200 stores in four years
Seattle -- Starbucks Coffee Company reaffirmed its commitment to accelerate growth in Southeast Asia, announcing plans to open 100 stores in Indonesia over the next three years and another 100 stores in the Philippines over the next four years.
Starbucks entered Southeast Asia in 1996 with its first store in Singapore. The company currently operates more than 700 stores across six countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand and, most recently, Vietnam.
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Macy’s CEO pay package put at $11.3 million
New York -- Macy's CEO Terry Lundgren had a pay package worth $11.3 million in 2012, down 22% from 2011, the Associated Press reported.
Lundgren had a salary of $1.6 million stock and options awards worth $7.7 million, and perks worth about $76,000. The decline came from a 63% smaller cash payment for performance, the report said.
Macy's said the CEO beat the profit expectations for the year but fell short on cash flow, due to a big merchandise purchase at the end of the fiscal year.