Starbucks Corp - SBUX STOCK NEWS

Starbucks has appointed Brad Lerman as executive vice president and general counsel, effective May 8, 2023. Lerman brings over 30 years of legal experience from both public and private sectors, previously serving at Medtronic, Federal National Mortgage Association, and Pfizer.

CEO Laxman Narasimhan expressed excitement over Lerman’s extensive background in navigating complex legal challenges internationally, which is expected to enhance decision-making and compliance at Starbucks. Lerman replaces acting general counsel Zabrina Jenkins, acknowledging her contributions during the transition period.

This announcement marks one of Narasimhan's first significant actions since officially taking on the CEO role on March 20, 2023.

Starbucks Corporation (NASDAQ: SBUX) announced a quarterly cash dividend of $0.53 per share, set to be paid on May 26, 2023, to shareholders on record by May 12, 2023. This dividend reflects Starbucks' ongoing commitment to returning value to its shareholders and is part of its broader financial strategy. The company continues to lead in the specialty coffee market with over 36,000 stores worldwide and maintains a focus on ethical sourcing and high-quality coffee.

Starbucks (NASDAQ: SBUX) has officially appointed Laxman Narasimhan as its new CEO and a member of the board of directors, effective today. Narasimhan, who joined as incoming CEO in October 2022, boasts over 30 years of experience in consumer goods and retail. Under the leadership of interim CEO Howard Schultz, Starbucks implemented a $1 billion investment strategy focused on enhancing employee benefits and store innovation, resulting in a 47% stock price increase since Q2 FY22. The company continues to lead in the restaurant sector, being named the most valuable restaurant brand for the seventh consecutive year.

Starbucks Corporation (NASDAQ: SBUX) will conduct its Annual Meeting of Shareholders on Thursday, March 23, 2023, at 10:00 a.m. Pacific Time. The meeting will be held virtually, accessible via investor.starbucks.com. Shareholders eligible to vote include those recorded as of January 13, 2023, or those with a legal proxy. Voting requires a control number from the proxy materials. A replay will be available on the company’s website until September 22, 2023.

Founded in 1971, Starbucks is a leading coffee roaster and retailer, with over 36,000 stores globally. For more information, visit news.starbucks.com.

Starbucks has launched a new line of coffee beverages called Oleato, which infuses their finest arabica coffee with Partanna® extra virgin olive oil. This unique combination aims to enhance flavor and texture, resulting in velvety, luxurious drinks. Debuting on February 22 at the Starbucks Reserve Roastery in Milan, the initial offerings include Oleato Caffè Latte, Oleato Iced Shaken Espresso, and Oleato Golden Foam Cold Brew. The beverages will later be introduced in select markets worldwide including Southern California and Japan, aiming to elevate the coffee experience by blending traditions from Italy.

Starbucks Corporation (Nasdaq: SBUX) reported Q1 fiscal 2023 results with net revenues up 8% to a record $8.7 billion. Global comparable store sales increased 5%, driven by a 10% rise in the U.S. However, performance was impacted by challenges in China, where comparable sales decreased 29%. GAAP EPS rose 7% to $0.74, while non-GAAP EPS was $0.75, a 4% increase. The company reaffirmed its full-year guidance for 2023, despite concerns from international operations. Active U.S. Starbucks® Rewards members reached 30.4 million, marking a 15% year-over-year growth. Starbucks opened 459 net new stores globally, totaling 36,170 stores.

Starbucks Corporation (NASDAQ: SBUX) will announce its fiscal Q1 2023 financial results post-market on February 2, 2023. A conference call will follow at 2:00 PM Pacific Time, available via webcast on the company's website. A replay will be accessible until March 3, 2023. With over 35,000 stores globally, Starbucks is a leading retailer of specialty coffee, dedicated to ethically sourcing and roasting high-quality arabica coffee since 1971. Investors can expect insights into the company's performance and future outlook during this earnings call.

Starbucks Coffee Company (NASDAQ: SBUX) and DoorDash, Inc. (NYSE: DASH) have expanded their partnership to launch a new delivery service in Northern California, Texas, Georgia, Florida, and other select markets. Full nationwide availability is expected by March 2023. The decision follows positive feedback from a pilot program in various cities, including Atlanta and Houston. The collaboration aims to enhance customer access to Starbucks products, with approximately 95% of the core menu available for delivery. Customers can enjoy features like prompt delivery, fresh packaging, and customization options.

SEATTLE--(BUSINESS WIRE)--Starbucks Corporation (NASDAQ: SBUX) has announced a quarterly cash dividend of $0.53 per share, which will be payable on February 24, 2023, to shareholders of record on February 10, 2023. This reflects the company’s commitment to returning value to its shareholders. With over 35,000 stores globally, Starbucks continues to prioritize ethically sourced high-quality coffee, reinforcing its market leadership.