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Starbucks sales miss Street expectations
Although Starbucks’ profit in the first quarter rose a better-than-expected 25% to $540.7 million from $432 million in the year-ago period, same-store sales missed Wall Street expectations.
Same-store sales rose 5%, beneath Wall Street expectations of 5.9%. Revenue for the quarter ended Dec. 29, 2013 rose 12% to $4.24 billion from $3.79 billion.
Same-store sales in the Americas region also rose 5%, while analysts had expected a 6.4% increase.
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Le Pain Quotidien leases Manhattan location
New York — Le Pain Quotidien has leased a 3,100-sq.-ft. retail location at 1006 First Avenue, on the northeast corner of East 55th Street. A former Chase Bank location, the site offers 65 ft. of frontage set slightly above street level, allowing for excellent visibility and signage.
Le Pain Quotidien, an organic bakery and communal table restaurant, has more than 200 locations on five continents.