Latest Starbucks Corp News
Citing sustainability, Starbucks wants to overhaul its iconic cup. Will customers go along?
TEMPE, Ariz. (AP) — Bethany Patton steps up to the counter and places her pink mug into a shoebox-sized dishwasher. It spins. It whirs. Water splashes inside. After 90 seconds, the door opens and steam emerges. A barista grabs the mug, dries it and prepares Patton’s order — a 16-ounce...
Longtime Starbucks leader Howard Schultz steps down from the coffee chain's board
NEW YORK (AP) — Longtime Starbucks leader Howard Schultz is stepping down from the company's board of directors, the coffee chain announced. Schultz is credited for transforming the Seattle-based business into the coffee giant it's known as today. His departure from the board is...
Starbucks' Pumpkin Spice Latte turns 20, whether you like it or not
The seasonal drink that made pumpkin spice a star is turning 20. And unlike the autumn days it celebrates, there seems to be no chill in customer demand. Starbucks’ Pumpkin Spice Latte goes on sale Thursday in the U.S. and Canada, as it does each year when the nights start getting...
Summer spending at bars & restaurants surges as Americans shrug off inflation, recession fears
NEW YORK (AP) — Americans didn’t let persistent inflation and lingering worries about a recession cut into summer spending on eating and drinking out. Retails sales at restaurants and bars surged from May through July compared with a year ago, despite prices remaining relatively...
Starbucks reports record revenue as China booms, but sales still fall short of expectations
Starbucks reported record revenue in its fiscal third quarter as its China business roared back to life. Still, the company’s results were mixed for the 13 weeks ending July 2. While its earnings surpassed Wall Street’s forecast, its revenue and same-store sales were lower than...
Starbucks: Fiscal Q3 Earnings Snapshot
SEATTLE (AP) — SEATTLE (AP) — Starbucks Corp. (SBUX) on Tuesday reported fiscal third-quarter net income of $1.14 billion. On a per-share basis, the Seattle-based company said it had net income of 99 cents. Earnings, adjusted for restructuring costs, came to $1 per share. ...
Customers want instant gratification. Workers say it’s pushing them to the brink
NEW YORK (AP) — Six straight days of 12-hour driving. Single digit paychecks. The complaints come from workers in vastly different industries: UPS delivery drivers and Hollywood actors and writers. But they point to an underlying factor driving a surge of labor unrest: The cost to...
This week: Starbucks, Amazon earnings; July jobs report
BREWING PROFITS Starbucks reports its third-quarter financial results after the bell on Tuesday. Analysts forecast that Seattle-based Starbucks earned 95 cents-per-share in the period on sales of $9.3 billion. In the same quarter a year ago, the retail coffee chain...
No more free coffee on your birthday? Companies rein in customer rewards programs — here's why
WASHINGTON (AP) — Reward programs, including birthday freebies and discounts, have long been a way for brands to build loyalty and incentivize spending. But now some companies are becoming a bit more stingy — and customers are taking notice. Last fall, for example, many balked at...
Student loan payments start again soon. Supreme Court’s ruling means higher bills for many
WASHINGTON (AP) — In a good month, Celina Chanthanouvong has about $200 left after rent, groceries and car insurance. That doesn’t factor in her student loans, which have been on hold since the start of the pandemic and are estimated to cost $300 a month. The pause in repayment has been a...
