Retail Roundup—Starbucks gives raises to 150,000; Netflix triples profits

Starbucks
Starbucks announced raises for 150,000 employees in wake of the GOP tax cut. (Pexels)

Target expanding small formats

Target plans to open its fourth small-format store on Long Island, New York in October. The 54,300-square-foot location, though smaller than the traditional 140,000-square-foot format, will include a CVS Pharmacy and a Starbucks and will employ 60 people. (Newsday)

Starbucks gives raises to thousands

Starbucks will give raises to 150,000 U.S. employees in the wake of the federal tax overhaul. The company will spend $250 million overall in new employee benefits. (Fortune)

Toys R Us to shutter 180 U.S. stores

Toys R Us will shutter about 180 stores in the U.S., one-fifth of its store count, beginning in early February. The closures are part of a bankruptcy restructuring plan as the company hopes to emerge as a new brand. (CNBC)

Netflix triples profits in final quarter

Netflix grabbed 2 million more subscribers than anticipated in the final quarter of 2017, tripling its profits. The results drove the video service to a market capitalization of more than $100 billion for the first time. (Reuters)

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