The Big News
SEATTLE (July 1, 2008) Starbucks Corp. on Tuesday announced that it planned to close 600 domestic company stores, which is 500 more than the coffeehouse giant had previously targeted for closure. Officials also said the company would cut back further on new openings planned for fiscal 2009.
Viewpoint
Exceeding Expectations
In the hospitality industry we are driven to exceed the expectations of our customers at all times. Perhaps we need to master exceeding our own. According to the National Restaurant Association, May’s Restaurant Performance Index (RPI) was up again while the Expectations Index hit a record low. In order to best overcome the confluence of negative factors we have been submerged in, let’s focus on some positives. After all, we are not a pessimistic lot.
Leadership
by Bob Prosen, Author of Kiss Theory Good Bye
Leaders Doing Good
And Doing Well
As the global market continues to accelerate, so does the need for leaders who have the courage to “do good and do well.” It sounds simple, but it’s one of the biggest challenges you face as a leader.
FYI Candidates
Consumer Gloom…Doom for Employment Seekers?
The housing market is looking up and Paulson is predicting an economic growth spurt before the end of 2008. So, why is the market not reacting positively?
Executive Movements
NORMAN ABDALLAH said he is stepping down as chief executive of FIRED UP INC., the Austin based parent of the 150-unit CARINO’S ITALIAN GRILL brand, to lead Egyptian-based AMER INTERNATIONAL, a longtime Carino’s licensee.
AYLWIN LEWIS, former president, chief branding & operating officer of Yum! Brands Inc., has joined POTBELLY SANDWICH WORKS as president and CEO, officials of the 200-plus-unit quick-service chain said Thursday.
Financial Overview
Buoyed by a 5.8-percent jump in Olive Garden's same-store sales for the fourth quarter ended May 25, DARDEN RESTAURANTS INC. Tuesday reported a 7-percent year-over-year rise in quarterly net profit to $103.3 million.
Panera Bread Company (NASDAQ:PNRA) today announced that it is increasing its fiscal second quarter 2008 earnings per diluted share target to $0.48 to $0.50 from its previously announced target of $0.40 to $0.44 per diluted share.