Rise & Fall: Starbucks & Borders Group Inc.
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Profits soared for the ubiquitous coffee retailer as cost-cutting measures took effect and demand grew for its products. The Seatlle-based company’s CEO credited a “more disciplined focus on operations.” Store closings over the past year spared Ann Arbor-area outlets, which total 13 free-standing and in-store locations.
Ann Arbor’s troubled bookseller announced Thursday that it would close 200 Waldenbooks stores and cut 1,500 jobs. Among the casualties: the Briarwood Mall store. The company is still positioning itself for turnaround; let’s hope it works in 2010.
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