starbucks | Pixr8 News

Starbucks Announces 10% Increase in Quarterly Cash Dividend

1Oct By PriyankaNo Comments

Market

Starbucks Announces 10% Increase in Quarterly Cash Dividend

SEATTLE, Oct 1st 2020-- Starbucks Corporation (NASDAQ: SBUX) announced that its Board of Directors approved a 10% increase in the Company’s quarterly cash dividend. The quarterly cash dividend will increase from $0.41 to $0.45 per share and will be effective with the dividend payment to be distributed on November 27, 2020 to shareholders of record on November 12, 2020. This increase raises the Company’s annual dividend rate to $1.80 per share. “The Board’s decision to raise our quarterly dividend demonstrates confidence in the strength of our recovery and the robustness of our long-term growth model,” said Kevin Johnson, Starbucks president, and CEO. “Our cash flow generation is strong, and we remain committed to reducing our financial leverage while continuing to invest for futu...

Tata Starbucks posts 30% sales growth in FY’19

26Apr By Press Trust of IndiaNo Comments

BUSINESS

Tata Starbucks posts 30% sales growth in FY’19

Tata Starbucks, a 50:50 joint venture between Tata Global Beverages and Starbucks Coffee of the US, has reported a 30 per cent top-line growth in fiscal 2018-19, driven by new stores openings and improved performance. Tata Starbucks, which is expecting to break-even in the current fiscal, has opened 146 stores till date. Tata Starbucks reported "double digit top-line growth 30 per cent for the full year, driven by new stores and improved store performance", Tata Global Beverages Ltd (TGBL) said in an investors' presentation. Tata Starbucks revenue for the 2018-19, is expected to be around Rs 450 crore. TGBL said Tata Starbucks opened 30 outlets in the previous fiscal, out of which, 15 new stores were opened during the last quarter of the financial year. The company said, it ...

20Jan By Press Trust of IndiaNo Comments

CHINA

Coffee Clash Brewing in China: Startup Luckin takes on Starbucks

AFP: When Starbucks came to China two decades ago it promised to open a new store every 15 hours. Now a homegrown Chinese company Luckin Coffee plans to build a high tech-driven shop every three and a half hours to dethrone the US giant. The Chinese upstart is burning through millions of dollars to lure customers with steep discounts, challenging Starbucks' dominance by targeting office workers and students who prefer to have their java on-the-go or delivered to their doorstep. They could really benefit from wholesale coffee roasters similar to Iron and Fire based in the UK so they're really able to take on the competition. While Starbucks and British rival Costa Coffee offer lounging spaces for people to work or meet friends, most Luckin outlets are more like "delivery kitch...

Starbucks to Add Delivery Services to more than 2,000 Stores Through Uber Eats

15Dec By Gauri SinghNo Comments

News

Starbucks to Add Delivery Services to more than 2,000 Stores Through Uber Eats

The most popular coffee store Starbucks is expanding its partnership with Uber Eats to more than 2,000 stores in the United States next year, about a quarter of all of the company’s locations in the country. Starbucks first launched its program, Starbuck Delivers, as a pilot in September, serving people in Miami and Tokyo. Its coffee delivery roots actually began in China through a partnership with Alibaba and on-demand food delivery service Ele.me. The company also piloted a delivery service through two supermarkets in Shanghai and Hangzhou. It’s an experiment that appears to have had some success. Starbucks Delivers has reached 2,000 stores across 30 cities in China since launching three months ago, the company said at its investor conference Thursday.Now it’s taking what it learne...

Tata Starbucks Appoints Navin Gurnaney as the New CEO

3Oct By Gauri SinghNo Comments

News

Tata Starbucks Appoints Navin Gurnaney as the New CEO

Tata Starbucks, a joint venture between Tata Group and Starbucks has appointed Navin Gurnaney as its chief executive officer effective January 1, 2019. The new CEO will be replacing Sumitro Ghosh who will return to the US parent company after a three-year stint. The company stated that Gurnaney will be responsible for driving Tata Starbucks overall strategic direction and vision in India. Also, it will help in strengthening Starbucks business growth. “We are pleased to welcome Navin Gurnaney, who has a proven track record of success within Starbucks and is a business leader with the ability to bring people together, as Tata Starbucks continues to innovate and position itself for long-term growth in the India market,” said John Culver, group president, International, Channel Developme...

Starbucks Plans to Expand Smaller Indian Cities from Next Fiscal

27Jul By Gauri SinghNo Comments

News

Starbucks Plans to Expand Smaller Indian Cities from Next Fiscal

The popular coffeehouse chain Starbucks which is a joint venture between Tata Global Beverages and Starbucks Corp. is planning to expand in smaller Indian cities with a population of less than 5 million. It plans to open more outlets in the next fiscal year. Starbucks has a long-term goal of making India among its top five markets and this move seems to be a part of the strategy. Currently, Starbucks has 120 stores in India which is fewer than most of the 27 countries where it operates. In its home country the US, Starbucks at present has a maximum number of outlets. Apart from this, the company has its presence in China, Canada, Japan and the UK as well. It was the last fiscal year that Starbucks opened 25 new stores in India. “We are happy with the growth we are witnessing in Ind...

CEO of Starbucks Howard Schultz is Stepping Down

5Jun By AdityaNo Comments

News

CEO of Starbucks Howard Schultz is Stepping Down

The Starbucks Corporation informed media that the CEO of Starbucks Howard Schultz is stepping down this month. Myron E. "Mike" Ullman would be the new chairman upon Schultz's retirement. Howard Schultz joined coffee chain group 30 years ago. He oversaw the transformation of Starbucks into a global chain with more than 28,000 locations. He is now focused on innovation and social impact projects and also writing a book about Starbucks' social impact efforts. "Starbucks changed the way millions of people drink coffee, this is true, but we also changed people's lives in communities around the world for the better," Schultz said in a letter to Starbucks employees. Schultz said he was considering "a range of options for myself, from philanthropy to public service," but wasn't sure wh...

Nestle To Pay $7.15 Bn to Tie-up With Starbucks in Coffee Business

7May By Sheldan RungasamyNo Comments

USA

Nestle To Pay $7.15 Bn to Tie-up With Starbucks in Coffee Business

Nestle, the Swiss-based multinational food giant is set to buy Starbucks’ rights to sell the US coffee chain’s products around the world in a global partnership worth $7.15 Billion to be paid in cash as both companies aim at reviving their coffee empires. The announcement on the deal for a business with $2 billion in sales consolidates Nestle’s position as the leading coffee company in the world and will strengthen its place at the top of a fast-evolving market. Starbucks shared that the proceeds will be used to speed-up its share buybacks and the money raised from the deal will serve to add to its earnings per share (EPS) by latest 2021. While the deal will not include selling Nestle branded items in Starbucks’ cafes, the Swiss-based company expects the deal to sell Starbucks bagged...

8000 Starbucks Stores Will Shut Down in USA

18Apr By NitishNo Comments

USA

8000 Starbucks Stores Will Shut Down in USA

World's leading coffee chain Starbucks announced that they will shut over 8,000+ stores in the USA for one day to conduct anti-bias training. The announcement comes over an incident happened in Philadelphia Starbucks store last week, where the two African men were arrested for not ordering anything and using the bathroom. The two men entered the Starbucks on Thursday and asked to use the bathroom. An employee told them it was only for the paying customers. The Police were called reportedly by the manager when the two men sat in the store without placing the order. The men were arrested for trespassing. However, no charges have been filed. As per the report, due to this incident, Starbucks will close the stores May 29 to offer the training to 175,000 employees. "I've spent th...

Starbucks’ WiFi Was Hijacking Customer’s Laptop To Mine Cryptocurrency

14Dec By RishabhNo Comments

Tech

Starbucks’ WiFi Was Hijacking Customer’s Laptop To Mine Cryptocurrency

A user, named Noah Dinkin recently revealed in a Twitter post that Starbucks' free in-store WiFi in Buenos Aires was secretly hijacking customers' laptops to mine cryptocurrency. The hijack was revealed on Dec. 2 when Stensul CEO Noah Dinkin noticed a 10 second delay while connecting to the public WiFi at a Starbucks cafeteria in Buenos Aires, Argentina. After a little research, he found out that customers who were trying to access the free WiFi were having their electronic devices infected with a malicious code which was mining cryptocurrencies. After the post went viral, Starbucks did apologize for the mishap, but after several customers exposed to the hijack. How did they do it? Dinkin revealed that he uncovered a suspicious code embedded in Starbucks' reward-site for Argentina tha...

Microsoft Head Satya Nadella Will Join Board of Starbucks

25Jan By PriyankaNo Comments

News

Microsoft Head Satya Nadella Will Join Board of Starbucks

Microsoft's India-born CEO Satya Nadella has been nominated to join the Board of Starbucks for his "invaluable insight" in international operations and distribution as the global coffee giant focusses on global growth and innovation. Nadella, 49, has been nominated by Starbucks along with President and Chief Executive Officer of warehouse chain Sam's Club Rosalind Brewer and Executive Chairman of the LEGO Brand Group Jorgen Vig Knudstorp to its Board of Directors. Their election, which will bring the Board strength to 14, requires approval of the company shareholders, who will meet in March, Starbucks said in a statement. Starbucks nominated the three as it seeks to bring diversity to the Board while pursuing its long-term plan for strong global growth and innovation. The compa...

Starbucks Names China CEO, Sees 5,000 Stores There by 2021

19Oct By reutersNo Comments

News

Starbucks Names China CEO, Sees 5,000 Stores There by 2021

Starbucks Corp on Wednesday named its first chief executive officer for China and said it plans to more than double its store count in that country to 5,000 by 2021. The world's biggest coffee chain promoted Belinda Wong to the title of CEO of Starbucks China. Wong, who had been president of that operation, will continue to report to John Culver, group president of Starbucks Global Retail. Among other things, Wong will oversee the opening of Starbucks' first international Roastery and Reserve Tasting Room in Shanghai in 2017. Starbucks opened the first of its sprawling roasteries in Seattle in 2014 to showcase super-premium coffee beans and brewing methods. It was a move by the company to assert itself as a player in an upscale niche being defined by newer cafe chains such as Blue...