Posted by Mark J. Miller on March 13, 2013 02:23 PM
Plenty of businesses were unhappy when President Obama suggested raising the minimum wage, but Costco CEO Craig Jelinek recently let the world know that he’s all for raising it to $10.10 an hour—and the news isn’t hurting business, either.
Last quarter, Costco's revenue ballooned to $537 million, which is up from $394 million in the same period one year ago, The Huffington Post reports.
“At Costco, we know that paying employees good wages makes good sense for business,” Jelinik said last week. “Instead of minimizing wages, we know it's a lot more profitable in the long term to minimize employee turnover and maximize employee productivity, commitment and loyalty. We support efforts to increase the federal minimum wage.”Continue reading...
Posted by Dale Buss on March 7, 2013 09:18 AM
Facebook plans to announce facelift of its News Feed.
Taco Bell officially releases its Cool Ranch Doritos Locos Tacos today.
Time Warner to spin off Time Inc. as CEO Laura Lang exits.
Adidas posts weaker earnings on Reebok.
Baskin-Robbins plans to triple franchise size in Australia with new partnership.
Birds Eye commended for healthy eating campaign.
Boeing needs to provide more answers on Dreamliner firest to Transportation Secretary Ray LaHood.
Costco backs minimum-wage increase.
Cracker Barrel adds lower-calorie items.
Dell sees buyout deal threatened by activist investor Carl Icahn.
DirecTV bemoans rising program costs.
Google expands Street View in Europe.
Jamba Juice looks to fresh juice to boost sales.
Lego eyes tie-up with "The Simpsons" on Fox.
Moe's Southwest Grill readies first national ad campaign. Continue reading...
Posted by Dale Buss on February 20, 2013 12:22 PM
One company announced the deal early, but the merger between Office Depot and OfficeMax has been a long time coming.
Office Depot jumped the gun by posting a draft press release about the deal on its web site early this morning; shortly after, the two companies confirmed that a deal was done. The still-to-be-approver merger will create an $18 billion global "office solutions" company whose combination is meant to help them survive the intensifying competition not only with archrival Staples but also with Amazon.com and other retailers that are increasingly peddling office supplies.
"In the past decade, with the growth of the internet, our industry has changed dramatically," Neil Austrian, CEO of Office Depot, said in a press release. "Combining our two companies will enhance our ability to serve customers around the world, offer new opportunities for our employees, make us a more attractive partner to our vendors, and increase stockholder value."Continue reading...
brand vs. brand
Posted by Shirley Brady on February 18, 2013 09:45 PM
Tiffany is more than irked at Costco for selling diamond engagement rings as "Tiffany" rings. The luxury jeweler last week formally filed suit against the wholesale retail giant.
Costco CEO Craig Jelinek commented in an internal email communication that was sent to all employees this evening [Feb. 18, 8:27 pm EST], "We are disappointed that our efforts to resolve the issue with them did not result in an amicable solution as we had hoped."
Jelinek also acknowledged that the retailer erred by using the word "Tiffany" in describing the engagement rings:
"That was intended to describe a setting style used in those rings, and was not intended to claim that the rings were of any particular brand. In retrospect, it would have been better had we not used that description the way we did."
Below, read Costco's company-wide email:Continue reading...
Posted by Shirley Brady on February 18, 2013 05:31 PM
Nike and Oakley drop paralympic athlete Oscar Pistorious following steroid allegations during girlfriend's murder investigation.
Costco CEO addresses Tiffany suit for alleged trademark infringement in all-company email (exclusive).
Starbucks expands India footprint to seven stores as company tests video chat drive-through ordering and expands Starbucks Evenings concept to Washington's Dulles airport.
Carnival cruiseship fire blamed on fuel line leak.
China vows to crack down on "malicious" trademark registrations.
Disney's Hong Kong Disneyland theme park finally turns a profit thanks to Toy Story attraction.
Amway quietly builds brands and racks up sales.
BP prepares to go to court over Gulf spill.Continue reading...
Posted by Mark J. Miller on February 15, 2013 05:01 PM
Costco isn’t the first brand name to pop-up when consumers are looking for high-end luxury, but a few folks thought they had found it there when they came across low-cost Tiffany diamond engagement rings. (And they didn’t even have to buy them in bulk.)
Unfortunately for all those customers, the rings weren’t quite the real thing. Now, Tiffany is taking Costco to court for marketing some high-end jewelry in the past few years under its brand, without permission.
“We now know that there are hundreds if not thousands of Costco members who think they bought a Tiffany engagement ring at Costco, which they didn’t,” Jeffrey Mitchell, a lawyer for Tiffany, said in a statement to Bloomberg News. “Costco knew what it was doing when it used the Tiffany trademark to sell rings that had nothing to do with Tiffany.” The company's press release says it was tipped off by a California customer in November of the alleged scam.
This isn’t the first time Tiffany has had trouble with a low-cost seller. It battled with Overstock.com back in 2010, which had sold 1,365 pendants under the Tiffany name. It also had legal battles with eBay, claiming that the online seller was at fault for allowing some of its vendors to sell counterfeit Tiffany items, but the court never agreed with Tiffany on that one.
Tiffany seems to have a better case against Costco, which legally sells high-end jewelry brands such as Cartier, Breitling, and Chanel — not to mention other luxury brands such as Coach, Burberry and Mercedes-Benz — at select locations, such as Boca Raton, of course.
Posted by Dale Buss on February 15, 2013 09:00 AM
BlackBerry shows new signs of life as co-founder sells stake.
Apple challenges iPhone trademark loss in Brazil.
Carnival tries to cruise away from brand disaster as passengers mull legal options.
ABC, NFL and Call of Duty get top marks for consumer engagement.
Airbus drops lithium-ion batteries from latest jet.
Applebee's expands test of Express Lunch service.
Best Western focuses on its people, not perks, in new campaign.Continue reading...
Posted by Dale Buss on February 1, 2013 09:02 AM
AB InBev sees U.S. government sue to block acquisition of Grupo Modelo.
Best Buy Canada blames Walmart and Target for closure of 15 stores as Sears Canada downsizes.
P&G launches dual Old Spice Men in new campaign.
BlackBerry touts deal with NHL and begins selling new BlackBerry 10 in U.K. as investors retreat.
AstraZeneca and Bristol-Myers deepen diabetes-marketing alliance.
Chrysler reports 16-percent increase in January sales, strongest in five years.
GM promotion with Costco proves its worth.
Google submits proposal to resolve antitrust concerns in Europe.Continue reading...