News

CONSHOHOCKEN, Pa. — Ikea was joined by journalist and television host Lisa Ling to mark its third annual Life Improvement Project with a $50,000 donation to Save the Children’s early education programs.

In addition to the donation, Ikea provided home furnishings, design advice and manpower to help make over a Family Head Start/Early Learn location in Brooklyn, N.Y., a Save the Children-supported facility which was affected by Hurricane Sandy.

New York -- Starbucks Coffee Company is raising prices on some of its beverages starting on Tuesday. Prices will rise an average of 1% starting June 25, but will vary slightly in different regions.
   
"Less than a third of beverages will see a small increase in most stores," said Lisa Passe, a Starbucks spokeswoman, in an Associated Press report.

With an ongoing investigation into alleged violations of the Foreign Corrupt Practices Act, the last thing Walmart would want to do is enter a market like Russia. Nevertheless, a Bloomberg report this week linked the company to a retailer few Americans have ever hear of.

Cincinnati -- The Kroger Company reported better-than-expected net income of $481 million during the first quarter of this year, up nearly 10% from $439 million in the first quarter of 2012. The company also raised its forecast for annual earnings.

Total sales increased 3.4% from $29.1 billion to $30 billion and a 3.3% increase in same-store sales beat analyst projections of a 2.8% increase.

PITTSBURGH — Following the acquisition of Heinz by Berkshire Hathaway and 3G Capital, the company has announced a new senior leadership team.

Fort Worth, Texas -- Pier 1 Imports announced a 14% jump in fiscal first-quarter earnings on Thursday and upgraded its full-year guidance.

The company reported net income of $20.3 million for the first quarter ended June 1, compared to $17.8 million for the year ago period.

Total sales were $395 million, a 9.3% increase from $361 million in the prior year quarter. Same-store sales rose 5.9% on stronger store traffic and higher average tickets.

GENEVA & LONDON — P&G Prestige has entered into a licensing agreement with Alexander McQueen to manufacture and sell designer fragrance products under the Alexander McQueen brand name.

Grants worth $14 million to five nonprofit groups will provide nutritional education and help feed 1.7 million hungry kids this summer and next.