Briefs: Ap­ple dis­ap­points; Bos­ton Beer falls flat; Chipo­tle pre­pares to spice things up

Bloomberg Businessweek (Asia) - - CONTENTS - By Kyle Stock

Ap­ple posted its first quar­terly sales de­cline in 13 years, as de­mand for its iPhone waned and its new watch failed to fill the void. The tech gi­ant sold 51.2 mil­lion phones in the three months ended March 26, down from 61.2 mil­lion in the year-ear­lier pe­riod; profit slipped from $13.6 bil­lion to $10.5 bil­lion. Gold­man Sachs, long prac­ticed at sell­ing IPOs to CEOs and the rich, be­gan of­fer­ing sav­ings ac­counts to the masses. Af­ter buy­ing $16 bil­lion in re­tail de­posits from GE Cap­i­tal, the in­vest­ment bank of­fered 1.05 per­cent in­ter­est on new on­line ac­counts with its GS Bank USA. Such liq­uid as­sets will help Gold­man meet cap­i­tal re­quire­ments. ● ● The craft beer rev­o­lu­tion fi­nally hit Bos­ton Beer. The com­pany said its ship­ments for 2015 may de­cline up to 4 per­cent, as its Sam Adams brand bat­tles al­most 5,000 small U.S. brew­eries. Its an­swer: a crop of spe­cialty quaffs like Ni­tro Cof­fee Stout and Grape­fruit IPA. Face­book and Twit­ter con­tin­ued down dif­fer­ent paths. The so­cial net­work beat fore­casts to re­port $5.38 bil­lion for the re­cent quar­ter, thanks to stronger-than-ex­pected de­mand for mo­bile and video ads on the site. Twit­ter posted slow­ing sales growth for the re­cent quar­ter and fore­cast rev­enue for the cur­rent pe­riod far be­low ex­pec­ta­tions. While Twit­ter added 5 mil­lion users in the first three months of the year, it strug­gled to at­tract ad­ver­tis­ing from big brands, its main source of rev­enue. ●● In a bid to woo back cus­tomers and in­vestors, Chipo­tle Mex­i­can Grill will add chorizo sausage as a bur­rito fill­ing. Tofu, added in 2014, has been vir­tu­ally the only change to Chipo­tle’s menu in more than two decades.

——Jia Yuet­ing, CEO of elec­tric-car maker LeEco, a com­peti­tor to Tesla

CEO Wis­dom “We con­sider the car a smart mo­bile de­vice on four wheels, es­sen­tially no dif­fer­ent to a cell phone or tablet.”

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