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Bloomberg Businessweek reports that Costco CFO Richard Galanti is saying that the company isn't going to change anything about its approach to pricing, despite disappointing quarterly results.

Galanti, the story says, "urged Wall Street to think of our 'incredible, giant' rotisserie chickens. The company sells 60 million of those birds every year, keeping the price at $4.99 despite surging costs for both poultry itself and chicken feed. 'That’s us,' Galanti said of the stubbornly low prices. 'That’s what we do.' In other words: Don’t freak out about this quarter - Costco sees itself playing the long game."


• The Associated Press reports that Sunland Inc., a New Mexico peanut butter processor, has closed the doors of its plant and filed for Chapter 7 bankruptcy, which will allow it to liquidate its assets.

The story notes that "the Food and Drug Administration shuttered the plant in September 2012 after its products were linked to 41 salmonella cases in 20 states. Most of those were linked to natural peanut butter the company made for Trader Joe's ... The plant also made peanut butter under a number of different labels for retailers like Costco, Kroger and Trader Joe's, along with nut butter products under its own name."


Bloomberg Businessweek reports that Brooks Brothers "is planning to open its first-ever restaurant, dubbed Makers and Merchants, in a prime midtown Manhattan location, around the corner from its flagship store." The eatery will be a steakhouse, in keeping with its image.

According to the story, "The coat-and-tie merchant will be trying to replicate the success other apparel brands have had with restaurants. Tommy Bahama runs about a dozen stores with restaurants it calls Islands. The first Island-equipped store, which opened in 1996 in Naples, Fla., generates about $2,000 per square foot—more than twice sales at the company’s food-free stores."


• The Denver Business Journal reports that Wendy's "is selling all of its company-owned restaurants west of the Mississippi River except those in metro Denver ... That move will bring corporate ownership to roughly 1,000 of the more than 6,500 locations worldwide and is expected to yield expense savings and other benefits to the company."


• The New York Times reports that "Nestlé, the Swiss food giant, is looking to sell its Jenny Craig brand, just seven years after spending $600 million to buy the weight-loss company from two private equity firms." It is part of a broader plan by Nestlé to sell underperforming, non-core businesses.


• The New York Times reports this morning that Men's Wearhouse has rejected the $2.3 billion offer made by Jos A. Bank to acquire the company, "calling the proposed deal 'highly opportunistic' and likely to draw antitrust scrutiny." However, it appears that Jos A. Bank has no intention of going away, and plans to continue pressing for a combination of the two companies.
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