Starbucks Corp - SBUX STOCK NEWS

The Starbucks Board chairman, Mellody Hobson, thanked retiring CEO Kevin Johnson, who served for 13 years and led the company through the pandemic. Howard Schultz is appointed interim CEO. Starbucks reiterated its goal to expand to 55,000 stores by 2030 and return $20B to shareholders by 2025, having already returned over $25B in the last four years. The company aims to enhance the well-being of one billion people globally by 2030 and deepen sustainability commitments through new partnerships and technologies.

Starbucks CEO Kevin Johnson will retire on April 4, 2022, after 13 years with the company. He has served as CEO for the past five years and will continue as a consultant until September. The Board is searching for his successor, with Howard Schultz appointed as interim CEO during this transition. Johnson's tenure saw significant growth in Starbucks' digital initiatives and community-focused strategies. Schultz, the company's founder, returns to guide the company through this leadership change while also aiding in the search for a permanent successor.

Starbucks Corporation (NASDAQ: SBUX) is set to hold its Annual Meeting of Shareholders on March 16, 2022, at 10:00 a.m. PT. The meeting will be conducted virtually and accessible via investor.starbucks.com. Shareholders eligible to vote must have held shares by the record date of January 6, 2022. Voting requires a control number found on proxy materials. A replay of the meeting will be available on the website until September 16, 2022.

Starbucks has been a leading specialty coffee retailer since 1971, operating over 34,000 stores globally.

Starbucks reported Q1 fiscal 2022 net revenues of $8.1 billion, up 19% year-over-year, driven by a 13% increase in global comparable store sales. U.S. comparable sales surged 18%, with EPS at $0.69, reflecting a 30% increase. Despite strong demand, the company faced challenges from inflation and increased COVID-19-related costs. The global store count reached 34,317, including over 5,500 stores in China. Active U.S. Starbucks Rewards memberships grew 21% to 26.4 million.

Starbucks Corporation (SBUX) is set to announce its first quarter fiscal year 2022 financial results on February 1, 2022, after market close. A conference call will be held at 2:00 PM PT, accessible via the company's website. A replay will be available until March 4, 2022. Since its founding in 1971, Starbucks has grown to nearly 34,000 stores globally, focusing on ethically sourced, high-quality coffee and customer experience.

Starbucks Corporation (NASDAQ: SBUX) has announced a cash dividend of $0.49 per share of common stock. This dividend is set to be paid on February 25, 2022, to shareholders of record as of February 11, 2022. The decision reflects Starbucks' ongoing commitment to returning value to shareholders while maintaining its position as a leading specialty coffee retailer with approximately 34,000 stores globally.

Starbucks (SBUX) reported a strong Q4 fiscal 2021, with consolidated net revenues rising 31% to a record $8.1 billion, driven by a 17% increase in global comparable store sales. U.S. comparable store sales grew 22%, reflecting strong consumer demand. GAAP EPS reached $1.49, while non-GAAP EPS was $1.00. The company plans to return $20 billion to shareholders through dividends and share repurchases over the next three years. Active Starbucks Rewards membership in the U.S. neared 25 million, up 28% year-over-year.

Starbucks has announced a historic investment plan to enhance employee wages and experiences, with average hourly pay for U.S. partners aimed to reach nearly $17 by Summer 2022. The pay floor will be raised to $15/hr., and longer-serving partners could see raises of up to 10%. Additionally, the company will strengthen training and recruitment efforts and innovate in-store experiences with new technology. These initiatives highlight Starbucks' commitment to investing in its workforce while adapting to customer demand.

Starbucks Corporation (NASDAQ: SBUX) has announced an increase in its quarterly cash dividend from $0.45 to $0.49 per share, marking the eleventh consecutive annual dividend hike. This increase will be effective for the dividend payment scheduled on November 26, 2021, for shareholders of record on November 12, 2021. The annual dividend now totals $1.96 per share. Starbucks has consistently raised its dividend since initiating it in 2010.