Retail
Nordstrom posts strong first-quarter profit
Seattle-based high-end retailer Nordstrom announced a strong first quarter, with a 24 percent increase in profits as prices returning to pre-recession levels. The company reported profits of $145 million, or 65 cents a share, for the quarter ending April 30. One year ago, the company reported profits of $116 million, or 52 cents a share….
Art museum’s Picasso exhibition generated $66 million state impact
A study commissioned by the Seattle Art Museum says its recent exhibit of Pablo Picasso works generated an estimated $66 million in economic impact for Washington state, with $58 million of that amount generated in King County. The critically acclaimed Picasso: Masterpieces from the Musee National Picasso, Paris, on view from Oct. 8, 2010, through…
Learning Curve
Working from a small office in Seattles South Lake Union neighborhood, TeachStreet founder Dave Schappell and his small staff believe their online directory of classes and teachers can create a dedicated community of lifelong learners. Thanks to a business model unusual among service sites and an impressive array of partnerships, they might be right. Since…
17 Seattle organizations will honor Intiman tickets
Intiman Theatre, which last week canceled the rest of its 2011 season because of financial distress, says Intiman’s season-ticket subscribers will be able to exchange their Intiman tickets for performances at 17 other Seattle arts organizations, including Seattle Rep, ACT Theatre and the 5th Avenue Theatre. Here’s Intiman’s news release: Intiman Theatres 2011 Season Subscribers…
Flying High
When the aviation world was imploding in 2008 with stratospheric fuel prices and plummeting passenger demand, Alaska Air Group Inc. CEO Bill Ayer had some sage advice for navigating the storm and reversing his companys losses: Dont buy things you cant afford. Dont borrow money you cant pay back. Dont agree to things you dont…
Savers, Inc. Continues Global Growth
Savers, Inc., the international thrift store chain known locally as Value Village, announced today the company is purchasing 18 stores from Unique Thrift LLC. The acquisition strengthens Savers position as one of the world’s leading for-profit thrift retailer, bringing its total number of stores to 270 across the U.S., Canada and Australia. The addition of…
Brown Paper Tickets Takes On Ticketmaster
Photograph by Hayley Young In many ways, what Brown Paper Tickets CEO Steve Butcher and CTO William Scott Jordon are attempting is a Sisyphean affair at best. Dethrone Ticketmaster? Fat chance. It grossed $372 million in the fourth quarter of 2009 alone, providing tickets on a global scale for just about any major act coming…
Business Style 101
Sandals with socks. Pierced cheeks. Fleece over dresses. Locals get away with some pretty dodgy fashion choices in the Pacific Northwest. Yet, as wide open as Seattle style can be, we all know what works in a coffee shop doesnt necessarily play in a boardroom or corporate we space. Sometimes, it can feel easier to…
Amazon Battle With States Intensifies
Amazon. com is closing a Dallas area fulfillment center and canceling expansion plans in Texas citing the state’s “unfavorable regulatory climate,” The Wall Street Journal reports today. The decision represents just the latest in a string of disputes between Amazon.com and state governments, as states, hit by large budget deficits, have begun to insist that…
Shipping That Makes Sense
Zumiez does a booming business around the globe selling products for skateboarders and the snowboarding lifestyle. So when the company learned that by using the Bellevue-based startup Enroute Systems software-as-a-service product it could save up to $2.5 million a year, the firm was sold on the idea. Enroutes software allows companies to operate a single…
A Light Step
Photograph by Hayley Young Making high performance running gear is serious business, but you wouldnt necessarily know it from Brooks Sports zany promotions. The Bothell-based company has a double-decker British bus that features running-themed carnival games, an Arcade of Oddities and the worlds biggest shoe as it travels to 150 running events a year. The…
The SBM 80 Index Rises on the Strength of the Region’s Online Retail Sector
The SBM 80 Index, Seattle Business Magazine’s index of the shareprices of Washington’s top public companies, rose today, even as the broader market fell, on the strong of the region’s online retailers.The SBM 80 index rose 0.18 percent versus a 0.14 percent decline in the S&P 500 Performance in the SBM 80 was particularly strong…
Together They Stand
Chris Koebelin, generalmanager of the Magnuson-affiliated Silverdale Beach Hotel on the KitsapPeninsula. Seven years ago, Tom and Melissa Magnuson had a simple butgutsy idea: create a hotel reservation and marketing model that would competewith large hotel chains by pushing independent, non-franchised lodgingproperties to the forefront of powerful internet hotel booking channels likeExpedia and Travelocity. From…