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Thu. Feb. 02, 2012 Morton’s The Steakhouse closes Back Bay location Morton’s The Steakhouse shuttered its upscale Back Bay location yesterday on the same day a new owner took over the company. Tilman J. Fertitta, owner of Landry’s Inc., yesterday completed the acquisition of Morton’s Restaurant Group Inc., for about $116.6 million, and closed restaurants in other cities, including ones in Phoenix, Miami Beach, Jacksonville, Atlanta, Brooklyn, and Tysons Corner, Va., according to an employee at the Back Bay location who declined to provide her name.	Advertisement
Jordan’s Furniture is bringing back its Double Play Youth Baseball Program Jordan’s Furniture, the local furniture store chain, said it is again gearing up its Double Play Youth Baseball Program, which aims to supply “gently-used” baseball and softball equipment to inner-city youth. In partnership with the Red Sox Foundation’s “Reviving Baseball to Inner Cities,” the program seeks to distribute gear to more than 2,000 young ball players, Jordan’s said. The program starts this week and runs through April 1.
New Balance proposes new HQ in Boston’s Brighton neighborhood New Balance is proposing to build a new world headquarters in Brighton that will include new offices, a track and field facility, a hockey rink, and a boutique hotel. The developer of the complex, New Brighton Landing LLC, outlined its plans for a “health and wellness district” in a filing released by the City of Boston today. If approved, the complex will be constructed on a 14-acre tract near New Balance’s existing offices on Guest Street. New Balance markets athletic footwear and apparel.
Magic Mountain ski area hits its goal to become a skier owned cooperative After a nearly two-year campaign soliciting loyal skiers to buy shares at $3,000 a pop, Magic Mountain is finally a cooperatively owned ski area. The southern Vermont ski area has hit its goal of 300 shareholders, giving management access to the $900,000 raised during the campaign, which will go toward snowmaking and other infrastructure projects. Magic’s inability to cover trails with man-made snow has kept the small ski area from thriving, especially during dry winters like this one when skiers flock to nearby resorts with more snowmaking equipment.
TJX reports 7 percent increase in Jan. same-store sales TJX Cos., the Framingham retailer that operates such chains as T.J. Maxx, Marshalls, and HomeGoods, said that sales at stores open at least year rose 7 percent in January from a year ago. Such sales, known as same-store sales, are considered a key measure of a retailer’s performance by Wall Street analysts. TJX now expects fourth quarter earnings per share to be at or slightly above the high end of its previously estimated range of $1.19 - $1.23.
Boston Scientific falls after 4Q profit plunges 55 percent Boston Scientific Corp., the second-biggest cardiac-device maker, fell in early trading after fourth-quarter earnings plummeted 55 percent. Boston Scientific declined 3.6 percent to $5.87 at 8:30 a.m. Net income dropped to $107 million, or 7 cents a share, from $236 million, or 15 cents a share, a year earlier, the Natick-based company said. Demand for defibrillators to restart a stopped heart and pacemakers to ensure a steady rhythm, two of Boston Scientific’s biggest products, continued to fall in the fourth quarter.
Fidelity executive: Leaders need to ensure that younger Americans don’t get ‘raw deal’ Fidelity Investments’ asset management chief, Ronald O’Hanley, said that business and political leaders need to make sure they’re not creating “a truly raw deal” for younger generations of Americans. While the Occupy Wall Street movement could be criticized for a lack of focus, he is concerned about the notion of “intergenerational inequity” that the group raised. How younger Americans will pay their debts and save for retirement is an issue, he told the Greater Boston Chamber of Commerce.
Jumptap: It was a strong holiday for Kindle Fire Jumptap, a Cambridge firm focused on mobile advertising, reported a big spike in its network traffic from tablet computers such as the Kindle Fire in the days after Christmas. According to Jumptap, that’s an indication that many consumers either received a tablet as a holiday gift or bought one for themselves. The market share of the Kindle Fire spiked sharply in December on the Jumptap network, Jumptap said, and that suggests a 2012 trend for lower-priced tablets.
NY Times Co. reports profit drop, agrees to sell more of its stake in the Red Sox The New York Times Co. reported net income of $58.9 million for the fourth quarter, down 12.2 percent from a year ago, and said it has agreed to sell one-third of its remaining stake in the group that owns the Red Sox for $30 million. The Times Co., which owns The Boston Globe, said earnings per share in the quarter were 39 cents, compared with 44 cents a year ago. Total revenues declined 2.8 percent.
Casual Male revises guidance Casual Male Retail Group Inc., a Canton-based chain of apparel stores for big and tall men, said it is revising its guidance after a sluggish economy and warm-winter weather slowed traffic to its stores. In a press release, the company said it expects earnings per share for fiscal 2011 to be $0.28 to $0.29 per diluted share compared with previous guidance of $0.35 to $0.38 per diluted share. The company plans to report its financial results on March 15.
Chara, Spikes surge in jock popularity A California firm called Brand Affinity Technologies says it has developed a method for measuring how the popularity of athletes and celebrities rises and falls. The firm just issued a list of athletes who had the biggest jump in popularity during the last 30 days. Topping the list: Zdeno Chara of the Boston Bruins and Brandon Spikes of the New England Patriots. Others who saw a recent surge in popularity include Brandon Marshall, Hope Solo, Devin Thomas, and Danny Granger.
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