GOOD DAY FOR: A name change, after California’s 99 Cents Only retail chain is planning to raise prices above 99 cents for the first time in 26 years. The store is one of the few “dollar” stores left where everything is still 99 cents or less. But the chain just had two consecutive quarterly losses, as higher food, fuel, and labor costs hit the pricing structure. (Los Angeles Times)
BAD DAY FOR: A stiff drink, after British pub chain JD Wetherspoon credited a turnaround in its lager sales to the introduction of Coors Light at its 694 pubs. Coors Light is now its third most popular lager. Wetherspoon and fellow British pub chains Punch Taverns and Greene King all reported poor results, which they blame on the U.K.’s economic slump, rising prices, and a new country-wide smoking ban. (MarketWatch)
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