Starbucks missed market estimates for comparable sales in the quarter, largely due to the hit to operations in China due to lockdowns, although it saw strong demand growth in the US. In particular, Starbucks said its comparable sales in China fell 44% in the fiscal third quarter, offsetting a 9% increase in same-store sales in […]
Tag: Starbucks
Starbucks: He will remain the CEO of the company until his successor is found
Starbucks said it was well on its way to finding a CEO successor, it said in a conference call on quarterly results last month. The coffee shop chain said that Howard Schultz has agreed to remain as interim CEO until the first quarter of 2023. “This timetable offers the company the ideal passage for a […]
Starbucks: Leaving Russia after 15 years, closing 130 stores
After 15 years of operation in Russia, Starbucks will leave the country, following the same path with companies such as McDonald’s, Exxon Mobil and British American Tobacco. The coffee “giant” announced on Monday that it will no longer have a presence in Russia, closing its 130 licensed cafes in the country, which correspond to less […]
US: Starbucks announces pro-employee measures amid pro-union movement
Starbucks announced a series of measures in favor of its employees, mainly wage increases, on Tuesday, at a time when a movement in favor of the establishment of a labor union is expanding in the coffee chain, against which the head of the company supported. The coffee chain has clarified the salary increases it had […]
Starbucks: Increase in profits and revenue in the first quarter
Wall Street analysts estimate quarterly comparable sales of Starbucks Corp. as strict measures in China to halt COVID-19 hit US chain sales in the country, according to Reuters. Comparable sales in China fell 23%, overshadowing 12% growth in North America. Global comparable sales rose 7% in the second quarter, while analysts polled by Refinitiv spoke […]
USA: Starbucks fires workers who wanted to join a union
Starbucks on Tuesday fired employees at a cafe in Memphis, in the central US, who were planning to join Starbucks Workers United (SWU), the country’s first newly formed chain of workers. She formally charged the seven employees who were fired for violating her bylaws, allowing journalists to enter her store overtime to give interviews, a […]
Apple, Starbucks, AMD and more
Customers look at Apple’s new iPhone 11 series smartphones at an Apple retail store at the IFC Mall in Pudong New Area, Shanghai. Alex Tai | SOPA Images | LightRocket | Getty Images Take a look at the companies making headlines after the bell. Apple – Apple stock rose 2.5% after it reported strong fourth-quarter […]