Terry Smith’s buy-and-hold investment fund ditches stake in Starbucks Starbucks 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 RUSSIA EXIT 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 Coffee giant quits 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.
Starbucks joins Deliveroo for app orders October 5, 2021 Coffee chain Starbucks and delivery app Deliveroo have joined forces. More than 400 of the chain’s stores are available to order on the Deliveroo app from today, with more stores being added throughout the month. Londoners can now order coffees alongside sandwiches and other menu items. Other areas involved include Birmingham and Manchester. Standard delivery [...]
Starbucks UK plummets to £41m loss after year of Covid restrictions June 18, 2021 Starbucks has recorded a loss of £41m in the year to September 2020, after Covid restrictions forced it to shut branches and limit typical trading activity. The coffee chain saw revenues fall to £243m, according to a Companies House report, down 32.7 per cent, largely due to heavy restrictions imposed on the business throughout much [...]
Starbucks on hiring spree for 400 new jobs across UK as demand revives May 3, 2021 High Street giant Starbucks has launched a hiring spree for 400 roles as the coffee chain has been buoyed by the easing of pandemic restrictions. Positions will be available across almost 200 sites including city-centre, suburban high street and drive-thru locations as it builds its workforce to deal with higher demand. Starbucks, which currently employs [...]
Boots owner WBA appoints former Amazon director as new CEO January 27, 2021 The owner of Boots will strengthen its team in March with the appointment of a business powerhouse as the new CEO and adding a new executive chairman to its board. Previously chief operating officer of Starbucks Rosalind Brewer will join Walgreens Boots Alliance (WBA) as chief executive officer. Brewer, a former Amazon director, was the [...]
China’s President Xi writes to former Starbucks chairman in push to improve trade relations January 14, 2021 China’s President Xi Jinping has written to Starbucks’ former chairman to promote trade, state media reported this morning. Xi asked former Starbuck’s tycoon Howard Schultz to promote trade and business relations between Washington and Beijing, urging Schultz to “continue to play an active role in promoting China-US economic and trade cooperation”, the official Xinhua news [...]
Coronavirus: Starbucks bans reusable cups in bid to prevent spread of Covid-19 March 6, 2020 Starbucks has temporarily banned customers from using reusable cups in response to the coronavirus outbreak. The coffee shop chain has said customers will still get the 25p discount for bringing a reusable cup with them but drinks will be served in paper cups. Costa Coffee and Greggs have said they do not have plans to [...]