The nationwide average price for self-serve regular gasoline has dropped 10 cents a gallon since reaching a new record high of nearly $3.06 on Labor Day, according to AAA. As of Tuesday, the average was $2.96 a gallon, more than 51 cents higher than a month ago and $1.11 higher than a year ago. The Seattle-Bellevue-Everett average price was $2.92 a gallon, down from an all-time high of $2.94 last week.
Earnings soar for grocery giant
Kroger Co., which owns local chains Fred Meyer and QFC, said Tuesday its second-quarter profits rose 38 percent, boosted by a rebound in Southern California stores following a costly four-month strike last year. For the quarter ended Aug. 13, Kroger reported earnings of $196.5 million, or 27 cents a share, compared with $142.4 million, or 19 cents a share, in the same period a year ago. The results matched Wall Street’s consensus target of 27 cents a share, the average estimate of 12 analysts surveyed by Thomson Financial, on projected revenue of $13.6 billion.
Eden Bioscience ends costly lease
Eden Bioscience Corp. of Bothell has ended an expensive lease on space it wasn’t using. Rhett Atkins, Eden’s chief executive officer, said the early termination of its lease on a building on Monte Villa Parkway in south Snohomish County will result in a one-time charge of $2.3 million. But it will save the company $700,000 a year. Eden’s headquarters has moved a few hundred feet away to the King County portion of Bothell.
CombiMatrix finds distribution partner
VWR International Inc. has agreed to globally distribute DNA research tools made by Mukilteo’s CombiMatrix Corp. Mike Tognotti, vice president of sales and marketing at CombiMatrix, said the agreement expands potential sales of the company’s products further into the pharmaceutical, biotechnology and institutional research sectors.
Boeing chooses military tanker team
The Boeing Co. said Tuesday it will use a familiar team of suppliers as it bids for a new contract to build aerial refueling tankers for the U.S. military. The supply team includes Honeywell, General Electric Aircraft Engines, Pratt &Whitney and other companies that are currently helping Boeing build refueling planes for Italy and Japan. Other companies include Smiths Aerospace, Rockwell Collins Corp., Vought Aircraft Industries and Aeronavali of Italy.
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