Starbucks cheers ‘good progress’ in plan for 100 new UK shops September 7, 2023 Coffee giant Starbucks has hailed “good progress” in its expansion plans to open 100 new stores in the UK over the current year. The chain said it has also “maintained strong, double-digit growth” in the UK in recent months despite pressure on consumer spending due to the rising cost of living. On Thursday, the retail [...]
Starbucks faces pressure from German giant Allianz to overhaul approach to unions March 6, 2023 Starbucks today faced mounting pressure over its approach towards unions after German financial services giant Allianz vowed to back a push to force the coffee seller to overhaul its labour policies. Allianz GI today vowed to support an investor resolution calling on Starbucks to overhaul its approach to workers’ unions, following concerns about the coffee [...]
Starbucks puts UK sale rumours on ice with £30m 100-store expansion and refurb plans March 6, 2023 Starbucks has crushed rumours it was considering the sale of its UK business with plans for a 100 more stores across the UK. The US coffee chain said it was also planning to inject £30m into refurbishing its 1,066-strong current store offering and opening a range of new cafes. Last summer, the frappuccino maker was [...]
Starbucks interim chief says firm ‘lost its way’ as chain heads for fresh growth plan September 15, 2022 Starbucks’ interim chief said the firm had “lost its way” in recent times as the coffee giant eyes up a $450m growth plan. In an interview with the Financial Times, Howard Schultz said although the company had gone through a rocky period, he believed “the best days of Starbucks are ahead of us”. In an [...]
Starbucks posts record quarterly sales while Chinese stores feel Covid side effects August 3, 2022 Starbucks shares were elevated on Wednesday after the coffee chain posted record quarterly revenue. However, the US giant said its bottom line had been impacted by inflationary cost pressures and higher wages. It surpasses sales expectations, posting third quarter sales topping $8.2bn, ahead of analysts’ bets of $8.1bn. Roaring sales in the chain’s largest market [...]
Sale brewing? Starbucks considers disposal of 300-store strong UK operation July 17, 2022 Coffee giant Starbucks is mulling a possible sale of its UK operations against a backdrop of tough macroeconomic conditions. The global coffee titan had requested adviser and investment bank Houlihan Lokey to scout for interest in its UK arm, according to a report in The Sunday Times. Some 300 stores within Starbucks’ 1,000-shop strong UK [...]
Terry Smith’s buy-and-hold investment fund ditches stake in Starbucks June 10, 2022 Terry Smith’s flagship investment fund has ditched its stake in Starbucks, after the firm picked up a stake in the Seattle firm after its share price dropped at the start of the pandemic. The buy-and-hold investment fund, started by the star fund manager nicknamed “the English Warren Buffett,” has now sold off its stake [...]
Nike joins Starbucks and McDonald’s in exiting Russia as it cuts ties with franchisee May 25, 2022 Trainers titan Nike has become the latest US household name to exit Russia, as it confirmed it had not renewed agreements with its largest franchisee there. According to the Vedomosti daily newspaper, Inventive Retail Group (IRG), which oversees Nike’s stores in Russia via the subsidiary Up And Run has confirmed Nike is no longer supplying [...]
Starbucks follows McDonald’s and announces formal end of ‘brand presence’ in Russia May 23, 2022 Starbucks has formally quit Russia due to the war in Ukraine saying it no longer has a “brand presence” in the country. The coffee giant announced the suspension of all its operations in early March, including the shipments of all its products there. It has roughly 2,000 employees in the country. This comes after many [...]
Amazon faces tide of stateside union action alongside Starbucks and Apple  April 25, 2022 Amazon workers are gearing up to unionise in a second US warehouse, as big name brands continue to feel the sting of impending collective action stateside.