Reported by Star-Bulletin staff & wire
Wednesday, July 14, 1999
Isle chocolate maker to open 36 storesHawaiian Vintage Chocolate Co. plans to open five retail outlets in St. Louis this month and another 31 in six other mainland states by the end of the year, the Honolulu-based company said today.
The company said it is modeling its nationwide marketing expansion on the formula used by Starbucks Corp., getting into quality, busy shopping malls with retail outlets dedicated to its brand. Hawaiian Vintage signed an agreement with Hobson Marketing Co., a retail-kiosk developer and operator, for the outlets.
Hawaiian Vintage, which has plantations on several islands in Hawaii, said the exposure through the retail outlets will help sales at its Web site, http://www.hwvi.com.
Canada approves Cyanotech productCyanotech Corp. said today the Canadian government has approved its NatuRose natural astaxanthin product for sale in Canada. Astaxanthin is a red pigment used in aquaculture to add color to the flesh of pen-raised fish and shrimp.
Canada has a large fish-farming industry and is an important market, said Todd Lorenz, Cyanotech scientific director. Canadian fish farms now will be able to import Cyanotech's natural product, produced from algae grown in Kona ponds, rather than use synthetic astaxanthin, he said.
Time Warner beats profit estimatesNEW YORK -- Time Warner Inc., the world's largest media company, had better-than-expected second-quarter profit, fueled by higher ad sales at its cable-television networks, including TNT, and magazines such as In Style.
Net income, including gains, rose to $593 million, or 46 cents a share, after the payment of preferred dividends, from $101 million, or 2 cents, a year earlier. It earned 12 cents before the gain, beating the 6-cent average estimate of analysts polled by First Call Corp. It lost 1 cent in the year-ago period. Revenue rose 1.6 percent to $6.63 billion from $6.53 billion.
Time Warner is the parent of Oceanic Cable in Hawaii.