Starbucks Corp - SBUX STOCK NEWS

Starbucks reported robust Q3 fiscal 2021 results, with global comparable store sales soaring 73% and consolidated net revenues reaching $7.5 billion, a 78% increase year-over-year. The Americas segment saw 84% growth in comparable store sales, driven by a surge in transactions. The company opened 352 new stores, ending with a total of 33,295 globally. GAAP EPS rose to $0.97 from a loss of $0.58 last year. Full-year guidance was raised, projecting revenues between $29.1 billion and $29.3 billion. The Board declared a cash dividend of $0.45 per share, payable on August 27, 2021.

Starbucks Coffee Company (NASDAQ:SBUX) has finalized an agreement to sell its 50% stake in Starbucks Coffee Korea to E-Mart, which will acquire an additional 17.5% interest, raising its total ownership to 67.5%. Additionally, GIC Private Limited will acquire a 32.5% stake in the joint venture. This strategic move underscores Starbucks' commitment to partnering with local operators for growth. With over 1,500 stores in South Korea, the brand sees significant potential in the market. The transition is expected to be completed within 90 days, ensuring business continuity.

Starbucks (NASDAQ: SBUX) and Nestlé announced a collaboration to launch Starbucks Ready-to-Drink (RTD) coffee in select markets across Southeast Asia, Oceania, and Latin America starting in 2022. This partnership aims to enhance the global reach of Starbucks through tailored coffee products. The duo has previously achieved CHF 2.7 billion in sales of Starbucks products, marking double-digit organic growth in 2020. Focus will be on popular RTD items like Frappuccino and Doubleshot, as well as an innovation pipeline to attract younger consumers.

Starbucks Corporation (SBUX) will announce its Q3 fiscal 2021 financial results on July 27, 2021, after market close, followed by a conference call at 2:00 p.m. PT. Investors can access the webcast on the company’s website, with a replay available until August 27, 2021. With a global presence of nearly 33,000 stores, Starbucks remains a leading retailer of specialty coffee, committed to ethically sourcing high-quality arabica coffee since 1971.

Starbucks Corporation (NASDAQ: SBUX) has announced a dividend of $0.45 per share of outstanding Common Stock. This dividend will be distributed in cash on August 27, 2021, to shareholders who hold stocks by August 12, 2021. This decision reflects the company's commitment to returning value to its shareholders. With nearly 33,000 stores globally, Starbucks continues to be a leader in the specialty coffee market, focusing on high-quality arabica coffee sourcing and roasting.

Starbucks Corporation (NASDAQ: SBUX) announced key leadership changes to bolster its strategic objectives, effective June 28, 2021. John Culver is promoted to group president, North America and COO, while Michael Conway becomes group president, International and Channel Development. Michelle Burns is elevated to executive vice president, Global Coffee, Tea, and Cocoa. These appointments align with Starbucks' Growth at Scale strategy, focusing on sustainable growth and commitments to being People and Planet Positive.

Generate announces the launch of the first six community solar projects in New York State, part of a multi-year collaboration with Starbucks. These projects aim to provide solar energy to Starbucks stores and benefit up to 24,000 households and businesses, especially in under-served areas. Annually, the initiative is expected to deliver over 119,885 MWh of clean energy, supporting Starbucks' goal of becoming a resource-positive company by 2030. The program also offers participants discounted electricity rates through New York's Community Distributed Generation program.

Starbucks Corporation (NASDAQ: SBUX) reported Q2 fiscal 2021 results with consolidated net revenues of $6.7 billion, an 11% increase year-over-year, primarily driven by a 15% rise in comparable store sales. GAAP EPS rose to $0.56 from $0.28, while non-GAAP EPS increased to $0.62 from $0.32. Global comparable store sales were up 15%, with international sales soaring by 35%. The company affirmed its fiscal 2021 guidance, projecting revenues between $28.5 billion and $29.3 billion. Starbucks continues to adapt amidst changing customer needs while celebrating its 50th anniversary.

Starbucks Corporation (Nasdaq: SBUX) will announce its financial results for the second quarter of fiscal year 2021 on April 27, 2021, post-market close. A conference call will follow at 2:00 p.m. Pacific Time, with an accessible webcast on the company’s investor relations site. Starbucks, operating nearly 33,000 locations worldwide, is committed to sourcing high-quality arabica coffee and providing an exceptional experience to its customers. A replay of the conference call will be available until May 28, 2021.