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Starbucks

  • Starbucks faces pressure from German giant Allianz to overhaul approach to unions

    Starbucks AGM

    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

    more coffee

    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

    starbucks

    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.

  • 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 [...]

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