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Starbucks Corporation - SBUX STOCK NEWS

Welcome to our dedicated page for Starbucks Corporation news (Ticker: SBUX), a resource for investors and traders seeking the latest updates and insights on Starbucks Corporation 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.

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Starbucks (Nasdaq: SBUX) has announced its plans to release Q3 fiscal year 2024 financial results after market close on Tuesday, July 30, 2024. A conference call will follow at 2:00 p.m. Pacific Time, which will be webcast and accessible on the company's investor relations website. The webcast replay will be available until September 13, 2024.

Starbucks, founded in 1971, is the world's leading specialty coffee roaster and retailer, with nearly 39,000 stores worldwide. The company emphasizes its commitment to ethically sourcing and roasting high-quality arabica coffee, as well as providing a unique customer experience.

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Starbucks (NASDAQ: SBUX) has announced that its Board of Directors has approved a quarterly cash dividend of $0.57 per share for its outstanding Common Stock. The dividend is scheduled for payment on August 30, 2024, to shareholders recorded by August 16, 2024. Starbucks, founded in 1971, is renowned for ethically sourcing and roasting high-quality arabica coffee. With nearly 39,000 stores globally, Starbucks remains a prime specialty coffee roaster and retailer.

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Condado Tacos has announced Derrick Pratt as the new CEO, effective July 1, 2024. Pratt, with nearly 40 years of experience in the restaurant industry, previously served as COO at Portillo's (PTLO) and held significant roles at Starbucks (SBUX) and McDonald's (MCD).

Under Pratt's leadership at Portillo's, he drove key technology initiatives and led the company through a successful IPO in 2021. Condado Tacos, which has doubled its locations in the past three years, aims to leverage Pratt's expertise for its next growth phase.

Pratt is expected to focus on strategic expansion, operational processes, and people development at Condado Tacos, aligning with the company's vision and culture. Condado Tacos currently operates 50 locations across 10 states.

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Starbucks (Nasdaq: SBUX) announced that Rachel Ruggeri, executive vice president and chief financial officer, will host a fireside chat at the Deutsche Bank Global Consumer Conference in Paris on June 5, 2024, at 8:30 a.m. CEST (2:30 a.m. Eastern Time).

The event will be webcast live and available for replay on the company's Investor Relations website. Starbucks has a global presence with over 38,000 stores, emphasizing high-quality arabica coffee sourced ethically.

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Starbucks reports Q2 fiscal 2024 results with consolidated net revenues down 2% to $8.6 billion due to a challenging operating environment. The GAAP and non-GAAP EPS were $0.68. Global comparable store sales declined by 4%, with North America and U.S. sales down by 3%. International sales also declined by 6%. The company opened 364 net new stores in Q2, ending with a total of 38,951 stores. Consolidated net revenues declined 2% to $8.6 billion. Starbucks reported a GAAP operating margin of 12.8%, a decrease of 240 basis points year-over-year. GAAP EPS declined by 14% to $0.68. Starbucks Rewards loyalty program 90-day active members totaled 32.8 million, up 6% year-over-year.

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Starbucks CEO announced five initiatives at the first-ever Starbucks Promises Day, including supporting World Central Kitchen with coffee sales, launching Global Barista Championships, coffee experience pop-ups, expanding coffee innovation farms, and introducing a reusable cup for partners. The event celebrated Starbucks partners and their commitment to the company's promises.
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Starbucks (SBUX) to announce Q2 Fiscal Year 2024 results on April 30, 2024, followed by a conference call at 2:00 p.m. Pacific Time. The webcast will be available on the company's website with closed captioning.
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Starbucks (SBUX) declared a quarterly cash dividend of $0.57 per share for its Common Stock, payable on May 31, 2024. Shareholders of record on May 17, 2024, will receive the dividend.
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Starbucks and Workers United reach agreement on labor relations, shareholder withdraws director nominees. The agreement aims to enhance worker benefits and value for shareholders. The SOC believes Starbucks' commitment to change will benefit all stakeholders.
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The Strategic Organizing Center, a shareholder of Starbucks Corporation, disagrees with ISS's view that board change is not needed at Starbucks. They believe Starbucks mishandled its response to employee unionization, damaging its reputation and share price performance. ISS acknowledges progress with Workers United but insists on independent oversight for Starbucks Board. SOC proposes three qualified nominees for director positions.
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FAQ

What does Starbucks Corporation do?

Starbucks Corporation is a multinational chain of coffeehouses and roastery reserves, known for its specialty coffee, beverages, and related products.

How many Starbucks stores are there worldwide?

As of the end of fiscal 2023, Starbucks operates over 38,000 stores in more than 80 countries.

What are the main revenue streams for Starbucks?

Starbucks generates revenue from company-operated stores, royalties from licensed stores, equipment and product sales to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.

What segments does Starbucks operate in?

Starbucks operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverages).

Where is Starbucks headquartered?

Starbucks is headquartered in Seattle, Washington, USA.

What are some recent achievements of Starbucks?

Recent achievements include expanding its digital initiatives, growing the Starbucks Rewards loyalty program, and innovating with new store formats like drive-thru and mobile order-and-pay.

What sustainability initiatives is Starbucks involved in?

Starbucks is committed to sustainability through efforts to reduce its environmental footprint and support coffee farmers with ethical sourcing practices.

How has Starbucks adapted to changing consumer preferences?

Starbucks has adapted by expanding digital offerings, including the Starbucks Rewards program, and introducing new store formats such as drive-thru and mobile order-and-pay.

What strategic partnerships has Starbucks formed?

Starbucks has formed strategic partnerships like its alliance with Nestlé to expand in the global packaged coffee market.

How does Starbucks support coffee farmers?

Starbucks supports coffee farmers through its ethical sourcing initiatives, providing them with resources and investments aimed at promoting sustainable farming practices.

Starbucks Corporation

Nasdaq:SBUX

SBUX Rankings

SBUX Stock Data

89.79B
1.13B
2.04%
76.08%
2.01%
Coffee and Tea Manufacturing
Manufacturing
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United States of America
SEATTLE