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Advance Auto drives up earnings, raises outlook
ROANOKE, Va. — Advance Auto Parts is raising its full year EPS outlook following an impressive 37% increase in third quarter earnings. According to Mike Norona, EVP and CFO, the company now expects its annual 2011 EPS outlook to be $4.90 to $4.95. For the third quarter, the cmpany reported that earnings per diluted share were $1.41 compared with $1.03 for the same period last year.
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Starbucks buys juice company, plans to roll out new concept
Seattle -- Starbucks Corp. announced Thursday plans to reinvent the $1.6 billion premium juice market with its all-cash purchase of San Bernadino, Calif.-based Evolution Fresh for $30 million.
The acquisition, which is part of a strategy to move beyond coffee into the health and wellness segment, gives Starbucks a path to open new health-and-wellness stores in the coming year, it said, although Starbucks has not yet revealed many stores it will open, their location or the name.