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Costco co-founder, chairman dies
A retail legend has passed. Costco Wholesale Club announced "with great sadness" that co-founder and chairman Jeff Brotman died Tuesday morning. He was 74. "The thoughts of Costco’s board, management and employees are with Jeff’s wife and family,” Costco said in a short statement. Brotman co-founded Costco Wholesale with Jim Sinegal. The two opened the first Costco warehouse club location in 1983, in Seattle. -
Coffee giant posts mixed earnings, plans to shutter tea division
Brands just can’t escape a challenging retail environment — a main reason Starbucks is pulling the plug on its Teavana operation. Just hours after the coffee giant announced it would buy out the remaining 50% share of its East China business from its joint venture partners for about $1.3 billion — its biggest acquisition, ever — Starbucks is cutting loose its Teavana division.

