Content about Starbucks Corp.

April 16, 2014

Starbucks Corp. plans to move its European headquarters to London, from its current base in Amsterdam, Netherlands.

Seattle – Starbucks Corp. plans to move its European headquarters to London, from its current base in Amsterdam, Netherlands. The move will both concentrate some executives in the U.K., including some transferred from the Amsterdam office, and also increase the tax Starbucks pays in the U.K.

Starbucks paid an estimated $16.8 million in U.K. taxes during 2013 and has said it expects to pay the same amount in 2014. The company has received criticism in the U.K. for allegedly using complex accounting procedures to minimize the tax it pays there.

January 24, 2014

Starbucks Corporation’s profit in the first quarter rose 25% to $540.7 million from $432 million in the year-ago period, better than analysts expected.

Seattle – Starbucks Corporation’s profit in the first quarter rose 25% to $540.7 million from $432 million in the year-ago period, better than analysts expected.

Revenue for the quarter ended Dec. 29, 2013 rose 12% to $4.24 billion from $3.79 billion. Same-store sales rose 5%, beneath Wall Street expectations of 5.9%.

Same-store sales in the Americas region also rose 5%, while analysts had expected a 6.4% increase.

October 25, 2013

Starbucks Corp. unveiled its new retail format, Teavana Fine Teas + Tea Bar, with the debut location opening on Manhattan's East Side.

Starbucks Corp. unveiled its new retail format, Teavana Fine Teas + Tea Bar, with the debut location opening on Manhattan's  East Side. The store features a wide variety of hot brewed and iced teas, tea fusion beverages and  tea-related merchandise. It also offers a range of food items, from salads to flatbreads to pastries and other baked goods, with a bakery-like presentations.

October 23, 2013

Starbucks Corp. unveiled its newest retail format, Teavana Fine Teas + Tea Bar, with the first location opening on the Upper East Side of Manhattan.

New York -- Starbucks Corp. unveiled its newest retail format, Teavana Fine Teas + Tea Bar, with the first location opening on the Upper East Side of Manhattan. Starbucks purchased the 300-store Teavana Holdings last year as part of its ongoing efforts to diversify and push beyond its signature beverage.  
  

September 26, 2013

Starbucks Corporation has reportedly applied to trademark the term “Fizzio.”

Seattle – Starbucks Corporation has reportedly applied to trademark the term “Fizzio.” According to the Associated Press, the trademark would cover beverage-making machines as well as beverages, including soft drinks.

A Starbucks spokesperson is quoted as saying the filing with the U.S. Patent and Trademark Office is related to tests of flavored sodas and other carbonated beverages in the Austin, Texas, and Atlanta markets the retailer has been running since June, which so far have been successful.

September 18, 2013

Starbucks Corporation is requesting that customers no longer bring guns onto its property, either inside or outside its stores — even in states where “open carry” laws permit them to do so — with the exclusion of law enforcement personnel.

Seattle -- Starbucks Corporation is requesting that customers no longer bring guns onto its property, either inside or outside its stores — even in states where “open carry” laws permit them to do so — with the exclusion of law enforcement personnel.

Company founder, chairman and CEO Howard Schultz made the request in an open letter posted under his name on the Starbucks website. The company plans to buy ad space in major national newspapers to run the letter.

September 17, 2013

Starbucks Corp. said that Troy Alstead, CFO and chief administrative officer, has been promoted to CFO and group president, Global Business Services.

Seattle -- Starbucks Corp. said that Troy Alstead, CFO and chief administrative officer, has been promoted to CFO and group president, Global Business Services.

Alstead’s promotion is a recognition of the increasing responsibility and complexity of his role overseeing Starbucks global financial, technology and supply chain operations and ensuring that the company’s overall business infrastructure is optimized to support the company’s global growth.

July 26, 2013

Starbucks Corp. reported strong results for third quarter fiscal 2013, with net revenues, same-store sales and operating income all increasing substantially from the same quarter a year earlier.

Seattle — Starbucks Corp. reported strong results for third quarter fiscal 2013, with net revenues, same-store sales and operating income all increasing substantially from the same quarter a year earlier.

Net earnings grew 25%, from $333.1 million to $417.8 million.

Net revenues totaled about $3.7 billion, up 13% from $3.3 billion. Same-store sales increased 8% globally, driven by 9% growth in U.S. stores.

January 28, 2013

Starbucks Corp. is expanding its drive-thru format, the chain said in its first-quarter earnings call.

New York -- Starbucks Corp. is expanding its drive-thru format, the chain said in its first-quarter earnings call. According to company officials, more than half of the approximate 1,500 new locations it plans to open in the United States during the next five years will be drive-thrus.

Starbucks plans to remodel about 1,400 U.S. locations in 2013. Roughly 500 of those locations will receive a major overhaul.

January 24, 2013

Starbucks Corp. said its profit rose in its first quarter as customers spent more at its stores in the United States and Asia.

Seattle -- Starbucks Corp. said its profit rose in its first quarter as customers spent more at its stores in the United States and Asia.

Starbucks earned $432.2 million in the quarter ended December 30, 2012, compared with $382.1 million in the year-ago period.

Revenue rose 11% to $3.8 billion, slightly below expectations.

The company reported that global same-store sales rose 6%. In Europe, the metric fell 1%. Americas’ comparable store sales grew 7%. Same-store sales in the China/Asia Pacific region grew 11%.

May 18, 2012

Starbucks Corp. announced a series of management changes that it said it was undertaking to accelerate its innovation and growth.

Seattle -- Starbucks Corp. announced a series of management changes that it said it was undertaking to accelerate its innovation and growth. The changes come after Starbucks missed its global sales forecasts in April, mainly due to a downturn in Europe.

The company named Craig Russell, the senior VP U.S. Store Services, as senior VP of the Global Coffee division.

April 27, 2012

Starbucks Corp.’s net income surged a better-than-expected 18% in its fiscal second quarter, as its store traffic increased in most parts of the world.

Seattle -- Starbucks Corp.’s net income surged a better-than-expected 18% in its fiscal second quarter, as its store traffic increased in most parts of the world. The coffee giant also raised its forecast for the year on the results and said it was accelerating its growth.

For the three months ended April 1, the company earned $309.9 million, compared with a profit of $261.6 million in the year-ago quarter. Revenue rose to $3.2 billion, up from $2.79 billion a year ago. Same-store sales increased 7%.

March 19, 2012

Starbucks Corp. opened its first-ever juice bar under its newest brand, Evolution Fresh.

Seattle -- Starbucks Corp. opened its first-ever juice bar under its newest brand, Evolution Fresh. The shop, which also features wraps, soups, salads and vegetarian items, is located in Bellevue, Wash.

Starbucks purchased the Evolution Fresh juice brand in November 2011 for $30 million. The coffee giant plans to roll out Evolution Fresh juices to its coffee shops later this year.

January 27, 2012

Starbucks Corp. reported that its fiscal first-quarter profit rose 10% for the quarter ended Jan. 1, 2012.

Seattle -- Starbucks Corp. reported that its fiscal first-quarter profit rose 10% for the quarter ended Jan. 1, 2012. But the company issued a modest forecast for the year that was slightly below Wall Street expectation, citing ongoing struggles with higher costs for coffee beans, dairy products and other ingredients.

January 19, 2012

Starbucks Corp. is closing in on its retail deal with India’s Tata Coffee Ltd., which makes and exports instant coffee and plantation coffee, Reuters reported.

New York City -- Starbucks Corp. is closing in on its retail deal with India’s Tata Coffee Ltd., which makes and exports instant coffee and plantation coffee, Reuters reported.

Tata Coffee plans to open a Starbucks coffee shop by the end of this year, the report said.

November 10, 2011

Starbucks Corp. announced plans to reinvent the $1.6 billion premium juice market with its all-cash purchase of San Bernadino, Calif.-based Evolution Fresh for $30 million.

Seattle -- Starbucks Corp. announced Thursday plans to reinvent the $1.6 billion premium juice market with its all-cash purchase of San Bernadino, Calif.-based Evolution Fresh for $30 million.

The acquisition, which is part of a strategy to move beyond coffee into the health and wellness segment, gives Starbucks a path to open new health-and-wellness stores in the coming year, it said, although Starbucks has not yet revealed many stores it will open, their location or the name.

November 4, 2011

Starbucks Corp.’s fiscal fourth-quarter profit jumped nearly 29%, beating Wall Street estimates on strong sales around the globe.

Seattle -- Starbucks Corp.’s fiscal fourth-quarter profit jumped nearly 29%, beating Wall Street estimates on strong sales around the globe. The company earned $358.5 million in the quarter, up from $278.9 million last year. Revenue rose 7% to $3 billion, with some benefit from foreign exchange rates. Same-store sales increased 9%, with a 10% rise in the United States.

August 22, 2011

Starbucks Corp. agreed to pay nearly $1.6 million to cafe managers and their lawyers to settle a dispute concerning overtime pay, the Associated Press reported.

Seattle -- Starbucks Corp. agreed to pay nearly $1.6 million to cafe managers and their lawyers to settle a dispute concerning overtime pay, the Associated Press reported.

The lawsuit was filed in 2009 in U.S. District Court in South Florida by a former Starbucks employee and covered roughly 550 managers.

July 29, 2011

Starbucks Corp. reported Thursday that it scored record results in the quarter ended July 3, prompting the retailer to accelerate its 2012 new store opening targets to 800 net new stores globally.

Seattle -- Starbucks Corp. reported Thursday that it scored record results in the quarter ended July 3, prompting the retailer to accelerate its 2012 new store opening targets to 800 net new stores globally.

Starbucks grew profits 34% in the third quarter, to $279 million from $208 million in the year-ago period. Sales rose 12% to $2.9 billion from $2.6 billion, topping Wall Street estimates.

Same-store sales globally surged 8%, buoyed by a 6% increase in traffic and a 2% increase in average ticket.

June 15, 2011

Starbucks Corp. launched an application Wednesday that lets customers purchase goods with their Android smartphones.

Seattle -- Starbucks Corp. launched an application Wednesday that lets customers purchase goods with their Android smartphones. The company already has similar applications nationwide for BlackBerry and iPhone and iPod touch in January.

The application also allows customers to load their Starbucks loyalty card accounts, check card balances and find stores nearby, and it notifies customers of promotions and other discounts.

June 2, 2011

Starbucks Corp. announced it has acquired full ownership of Starbucks stores in the China provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei in an agreement with Maxim’s Caterers Ltd., the coffee company’s joint-venture partner.

Seattle -- Starbucks Corp. announced it has acquired full ownership of Starbucks stores in the China provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei in an agreement with Maxim’s Caterers Ltd., the coffee company’s joint-venture partner. As a result, Starbucks said now has full control of more than half of the Starbucks retail stores in Mainland China as it looks to accelerate growth in the future.

May 31, 2011

Seattle’s Best Coffee LLC, a division of Starbucks Corp., has asked a bankruptcy judge to reject Border Group’s request to end the companies’ licensing agreement.

New York City -- Seattle’s Best Coffee LLC, a division of Starbucks Corp., has asked a bankruptcy judge to reject Border Group’s request to end the companies’ licensing agreement.

Borders is not entitled to cancel the agreement and continue to use Seattle’s Best’s trademarks and products, the coffee company said today in a court filing. Seattle’s Best also disputed Borders’s claim that terms of the agreement are excessive.

January 28, 2011

Starbucks Corp. reported that its first quarter net income rose nearly 44%, beating expectations, to $346.6 million in the period ended Jan. 2. That's up from $241.5 million a year earlier.

Seattle -- Starbucks Corp. reported that its first quarter net income rose nearly 44%, beating expectations, to $346.6 million in the period ended Jan. 2. That's up from $241.5 million a year earlier. Although the company expects its base of customers to keep growing, it offered a tepid full-year forecast, saying higher commodity costs could eat into its profit.

Revenue rose nearly 8% to $3 billion. Same store sales rose 7%, driven by a 5% boost in traffic and 2% higher average transaction. The figure rose 8% in the United States and 5% abroad.

December 17, 2010

Some are entrepreneurs who built their companies from the ground up, turning one idea into a billion-dollar global empire.

Some are entrepreneurs who built their companies from the ground up, turning one idea into a billion-dollar global empire. Some came up through the ranks, earning the trust and admiration of those around them with each passing year. And still others came in later — hired guns — bringing with them an expertise and skill set that sets them apart. All are alike in their ability to create new opportunities and take their businesses to the next level — no easy feat in today’s marketplace.

December 1, 2010

Starbucks Corp. is looking beyond its cafes for expansion in the future.

New York City -- Starbucks Corp. is looking beyond its cafes for expansion in the future. Detailing its growth plans Wednesday at its investor conference, the chain announced it plans to triple the number of its cafes in China, offer more products in grocery stores and open new kinds of stores to build on its recent recovery.