Welcome to our dedicated page for Starbucks news (Ticker: SBUX), a resource for investors and traders seeking the latest updates and insights on Starbucks stock.
Starbucks Corporation (NASDAQ: SBUX) is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. Recognized as the world’s largest coffeehouse chain, Starbucks had 33,833 stores in 80 countries as of November 2021, with 15,444 locations in the United States alone. As of the end of fiscal 2023, the number of stores has grown to over 38,000 across more than 80 countries.
Starbucks operates through three primary segments: North America, international markets, and channel development. The company generates revenue from various streams, including company-operated stores, royalties from licensed stores, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products. This diverse operational strategy has solidified its position as a leading player in the global coffee industry.
Recent achievements and projects include expanding its digital initiatives, such as the Starbucks Rewards loyalty program, which has seen significant growth and engagement. The company continues to innovate with new store formats, including drive-thru and mobile order-and-pay options, catering to changing consumer preferences. Starbucks is also committed to sustainability and ethical sourcing, with initiatives aimed at reducing its environmental footprint and supporting coffee farmers worldwide.
Financially, Starbucks has maintained a robust performance, with consistent revenue growth and strong market presence. Strategic partnerships and collaborations, such as its alliance with Nestlé to expand its presence in the global packaged coffee market, further enhance its brand value and market reach.
Overall, Starbucks Corporation’s continuous innovation, strategic growth, and commitment to quality have reinforced its status as a global coffee leader, making it a significant entity in both the restaurant and beverage industries.
Starbucks has partnered with Volvo and ChargePoint to install up to 60 DC fast chargers in 15 Starbucks locations along a 1,350-mile route from the Colorado Rockies to Seattle. The first four chargers are operational in Provo, Utah. This initiative aims to boost EV infrastructure, assisting both EV drivers and Starbucks customers. While any EV can use these chargers for a fee, Volvo drivers will enjoy complimentary access. The project aligns with Starbucks' sustainability goals, including a 50% reduction in carbon footprint by 2030.
Starbucks (SBUX) reported Q3 fiscal 2022 results with consolidated net revenues of $8.2 billion, a 9% increase from the previous year. Comparable store sales rose 3% globally, driven by a 9% increase in the U.S. The company opened 318 new stores, reaching a total of 34,948 locations. However, earnings per share decreased to $0.79 GAAP, down from $0.97 year-over-year. The North America segment saw revenue growth of 13%, while international revenues declined by 6%, primarily due to challenges in China. Starbucks suspended guidance for the remainder of the fiscal year.
Starbucks Corporation (SBUX) will release its third quarter fiscal year 2022 financial results after market close on August 2, 2022. A conference call is scheduled for 2:00 p.m. Pacific Time, accessible on the company's website with closed captioning available. The webcast replay can be viewed until September 2, 2022. Starbucks has over 34,000 stores globally and is recognized as the leading retailer of specialty coffee.
Starbucks Corporation (NASDAQ: SBUX) has declared a dividend of $0.49 per share of common stock. This dividend will be paid on August 26, 2022, to shareholders who are on record as of August 12, 2022. With over 34,000 stores globally, Starbucks continues its commitment to ethically sourcing high-quality arabica coffee, further solidifying its position as a leading specialty coffee retailer.
Starbucks (NASDAQ: SBUX) is set to host its 2022 Investor Day on September 13, 2022, in Seattle. The event begins at 7:30 a.m. PT and concludes at approximately 3:00 p.m. PT. Senior leadership, including interim CEO Howard Schultz and CFO Rachel Ruggeri, will present and participate in a Q&A session. Due to limited capacity, in-person attendance is by invitation only, but the event will be webcast for public access. A replay will be available the following day on the company’s website.
Starbucks Corporation (NASDAQ: SBUX) Board confirms the ongoing search for a new CEO, with Howard Schultz remaining as interim CEO through Q1 2023. This extension aims to ensure leadership continuity during the 2022 holiday season. Since April 4, Schultz has engaged with employees to outline a strategic plan for the company's reinvention. The Board anticipates naming a new CEO by Fall, with a transition planned in early 2023, after which Schultz will remain on the Board.
Starbucks (NASDAQ: SBUX) has entered a definitive agreement for Bolthouse Farms to acquire Evolution Fresh, known for its organic, cold-pressed juices. This acquisition aims to accelerate Evolution Fresh's growth while allowing Starbucks to focus on its core business. The transaction will transfer employees supporting Evolution Fresh to Bolthouse Farms. Bolthouse Farms will expand its beverage offerings with a full lineup of organic juices, and Starbucks locations will continue selling these products. The undisclosed deal is expected to close later this year.
Starbucks Corporation (SBUX) announced significant investments totaling nearly $1 billion in fiscal year 2022, aimed at enhancing partner support, store innovation, and modernized training. CEO Howard Schultz emphasized that these investments will meet record customer demand and improve profitability. Key initiatives include raising pay to a $15/hour floor and providing additional training for partners. Starbucks plans to launch features such as credit card tipping and technology upgrades by late 2022, with a focus on elevating both partner and customer experiences.
Starbucks Corporation reported a robust Q2 performance with consolidated net revenues reaching a record $7.6 billion, up 15% year-over-year. Comparable store sales grew 7% globally, with a notable 12% increase in the U.S. GAAP EPS rose 4% to $0.58, while non-GAAP EPS declined to $0.59 from $0.61. Active U.S. Starbucks Rewards members increased by 17% to 26.7 million. However, operating margins faced pressure due to inflation and COVID-19 restrictions in China, with overall margins declining from previous year levels.
Starbucks Corporation (NASDAQ: SBUX) will announce its second quarter fiscal year 2022 financial results after market close on Tuesday, May 3, 2022. A conference call is scheduled for 2:00 p.m. Pacific Time, which will be accessible via the company's website. A replay of the call will be available until June 3, 2022. Starbucks, established in 1971, operates over 34,000 stores worldwide and is recognized as a leading specialty coffee retailer.
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