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Starbucks serves tasty Q3 results as profit rises 25%
Seattle — Starbucks Corp. reported strong results for third quarter fiscal 2013, with net revenues, same-store sales and operating income all increasing substantially from the same quarter a year earlier.
Net earnings grew 25%, from $333.1 million to $417.8 million.
Net revenues totaled about $3.7 billion, up 13% from $3.3 billion. Same-store sales increased 8% globally, driven by 9% growth in U.S. stores.
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Cypress Equities acquires Glendale, Calif., center
Dallas — Cypress Equities has acquired the Glendale Marketplace in Glendale, Calif. The 154,420-sq.-ft. open-air retail and entertainment center is adjacent to the Americana at Brand.
National retail brands represented in the center include HomeGoods, Old Navy, Starbucks, GNC and Outback Steakhouse.
SRS Real Estate Partners will represent Cypress in lease negotiations.