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CEO Laxman Narasimhan lays out new geographic leadership and global support structure SEATTLE – Starbucks Coffee Company (NASDAQ: SBUX) today announced it will be making several leadership changes, creating a clear geographic leadership structure , supported by global functions with deep functional expertise and the ability to drive impact on a global scale. These changes will go into effect April 1. “We are making strong progress against our Triple Shot with Two Pumps Reinvention plan,” Laxman Narasimhan, Starbucks chief executive officer, shared with global partners earlier today. “To further accelerate progress, consistent with our ambitions, we are realigning the organization to balance clear geographical focus with investing in functional capabilities to scale around the world, generating productivity and reinvigorating our partner culture.”  Starbucks announced the following geographic ceos for the company: Michael Conway will take on a newly created role of ceo, North ...
03/18/24
Follows ISS’ recommendation that shareholders vote on the WHITE proxy card “FOR” ONLY Starbucks 11 director nominees Starbucks Corporation (Nasdaq: SBUX) today announced that proxy advisory firm Glass, Lewis & Co. (“Glass Lewis”) has recommended that Starbucks shareholders vote on the WHITE proxy card “FOR” ONLY each of the 11 Starbucks director nominees in connection with the Company's Annual Meeting of Shareholders, which will take place virtually on March 13, 2024, at 10 a.m. PT. Starbucks partners (employees) have always been the heart of its business and core to its success. The company is committed to building a bridge to a better future for all partners. This critical priority is led by the executive leadership team and overseen by the Board of Directors’ Environmental, Partner and Community Impact Committee. Throughout its history, the company has offered its partners industry-leading compensation and benefits, and over the past three years has invested nearly $9 billion ...
03/01/24
Starbucks Corporation (Nasdaq: SBUX) today announced that leading proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that Starbucks shareholders vote on the WHITE proxy card ONLY “FOR” the Starbucks 11 director nominees in connection with the Company's Annual Meeting of Shareholders, which will take place virtually on March 13, 2024, at 10 a.m. PT. Starbucks partners (employees) have always been the heart of its business and core to its success. The company is committed to building a bridge to a better future for all partners. This critical priority is led by the executive leadership team and overseen by the Board of Directors’ Environmental, Partner and Community Impact Committee. Throughout its history, the company has offered its partners industry-leading compensation and benefits, and over the past three years has invested nearly $9 billion to augment the partner experience. Starbucks is pleased that ISS recognizes the strength of the Starbucks Board ...
02/29/24
Q1 Consolidated Net Revenues Up 8% to a Record $9.4 Billion
Q1 Comparable Store Sales Up 5% Globally; Up 5% in North America; Up 7% in International
Q1 GAAP EPS Up 22% to $0.90; Non-GAAP EPS Up 20% to $0.90 as Reinvention Unlocks Continued Efficiency
Q1 Active U.S. Starbucks ® Rewards Membership Reaches 34.3 Million, Up 13% Over Prior Year
Q1 U.S. Card Loads Reaches a Record $3.6 Billion; Ranking as #2 U.S. Brand in Holiday Gift Card Activations Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended December 31, 2023. GAAP results in fiscal 2024 and fiscal 2023 include items that are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Q1 Fiscal 2024 Highlights Global comparable store sales increased 5%, driven by a 3% increase in comparable transactions and 2% increase in average ticket North America and ...
01/30/24
Starbucks Corporation (Nasdaq: SBUX) plans to release its first quarter fiscal year 2024 financial results after market close on Tuesday, January 30, 2024, with a conference call to follow at 2:00 p.m. Pacific Time. The conference call will be webcast, including closed captioning, and can be accessed on the company’s website at https://investor.starbucks.com/ . A replay of the webcast will be available on the company’s website until end of day, Friday, March 15, 2024. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 38,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at ...
01/16/24
Servitje – CEO and Chairman of Grupo Bimbo – brings more than 20 years of experience in global operations and corporate business development. Mohan – CEO of YouTube, the online video sharing and content platform with more than 2B users. Sievert – CEO, President, and Director at T-Mobile US, Inc. since 2020, one of the world's largest telecommunications companies, leading it to unprecedented growth since taking over after its merger with Sprint. Starbucks Coffee Company (NASDAQ: SBUX) today announced the election of Daniel Servitje, Neal Mohan and Mike Sievert to its Board of Directors. Daniel Servitje (Photo: Business Wire) Servitje has served as CEO of Grupo Bimbo since 1997 and as Chairman since 2013. He brings more than 20 years of global operations experience and insight into corporate business development. The global leader in the baking industry and an important player in snacks, Grupo Bimbo drives annual sales of $22.3 billion with over 217 plants and more than 148,000 ...
01/09/24