Brown &Cole Stores, which operates stores under names including Cost Cutter and Food Pavilion, has filed for Chapter 11 bankruptcy protection. The Bellingham-based company owns 27 supermarkets around the region, including in Everett and Arlington. Brown &Cole, which closed stores in Smokey Point and Stanwood last year, has cited increased competition from Wal-Mart supercenters as a factor in its troubles.
Bothell’s Sonus narrows its losses
Sonus Pharmaceuticals reported a net loss during the third quarter of $6.3 million, or 17 cents per share, compared with a $8.9 million loss in the same period last year. Helping the Bothell company’s bottom line was $4.9 million in revenue from a partnership agreement with Schering AG. Operating expenses, including clinical trial costs, grew from $9 million in the year-ago period to $12 million. Sonus is in phase 3 tests of its first chemotherapy drug, Tocosol paclitaxel, and in early tests of a second anti-cancer drug.
Lumera revenues and losses rise
Lumera Corp. of Bothell said Wednesday that it lost $2.7 million, or 16 cents per share, during the third quarter. That compared to a $2 million loss in the same period last year. The nanotechnology firm also reported revenue last quarter of $1 million, compared to $681,000 last year. The company raised nearly $17 million through a private placement of stock with investors.
Breakfast serves McDonald’s well
Breakfast offerings and a Monopoly game promotion strengthened U.S. results and helped boost McDonald’s Corp.’s worldwide same-store sales by 5.5 percent last month, the burger chain said Wednesday. Total October sales – including those from restaurants opened in the past year – grew 8.2 percent, or 6.6 percent excluding currency fluctuations. Same-store sales, or those from restaurants open at least 13 months, rose 5.6 percent in the U.S., aided by sales of breakfast items and the Snack Wrap, as well as Chicken Selects and premium chicken sandwiches.
Nastech wins rights to RNA technology
Nastech Pharmaceutical Co. has obtained rights to study RNA interference technology owned by the City of Hope, a research and treatment center for cancer, diabetes and other life-threatening diseases. RNA interference is a cellular mechanism that can be used to turn off the production of certain proteins. The RNA interference technology Nastech will look at could lead to the development of more potent drugs, the company said.
Internet connectors aid Cisco Systems
Cisco Systems Inc., the world’s largest networking equipment maker, said Wednesday its first-quarter earnings jumped 27 percent over last year on higher sales of the gear that connects computers to the Internet. Net income for the quarter ended Oct. 28 was $1.61 billion.
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