-
Buckle Q3 profit rises 9%
Kearney, Neb. -- The Buckle reported Thursday that net income for the quarter ended Oct. 27 rose 9% to $41.9 million, boosted by online strength and higher same-store sales.
Overall revenue rose 4% to $284.1 million, beating Wall Street’s predicted $282.8 million. Same-store sales climbed 2.4%. -
Starbucks acquires Teavana for$620 million in all-cash deal
Seattle -- Starbucks Coffee Co. announced Wednesday it will acquire specialty tea chain Teavana Holdings for $620 million in a move to gain traction in the $40 billion global tea industry.
According to Starbucks chairman, president and CEO Howard Schultz, the coffee company plans to grow and expand Teavana’s 300 mall-based stores as well as add a neighborhood store concept to accelerate Teavana’s domestic and global footprint.