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ALLETE Clean Energy's Diamond Spring Wind Project Will Provide Renewable Energy to Corporations
Allete Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE), announced today a power sales agreement with Smithfield Foods, Inc. for the remaining output of the Diamond Spring wind site ALLETE Clean Energy will build, own and operate in Oklahoma.
The Smithfield agreement follows an earlier announcement of power sale agreements with two large Fortune 500 companies, Walmart and Starbucks. Walmart has agreed to purchase 175 megawatts for 15 years, Smithfield will purchase 75 megawatts for 12 years, and Starbucks will purchase 50 megawatts for 15 years. The approximately 300-megawatt Diamond Spring site, which is ALLETE Clean Energy’s first project to sell wind power to corporate customers, is now fully contracted with the Smithfield agreement...
Starbucks Reports Q2 Fiscal 2019 Results
Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended March 31, 2019. GAAP results in fiscal 2019 and fiscal 2018 include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.
“Starbucks delivered another quarter of solid operating results, demonstrating that our ‘Growth at Scale’ agenda is working,” said Kevin Johnson, president and ceo. “We are especially pleased with our comparable store sales growth in our two lead markets, the U.S. and China, where we are also continuing to drive strong new store development with industry-leading returns. With solid first-half financial results, we are on track to deliver on our full-year commitments...
Restaurant Chains Support Packaging Initiative
Three giant restaurant companies have joined forces to support an initiative addressing packaging waste issues that challenge the foodservice industry. The plans include development of a sustainable cup that is recyclable and compostable.
Starbucks, McDonald’s and Wendy’s, all recognizing the need for increased and improved sustainable packaging, are participating in the NextGen Consortium, which is focused on creating environmentally friendly food packaging solutions.
The effort, led by sustainable investment firm Closed Loop Partners, began last September, with the NextGen Cup Challenge, a contest highlighting sustainable packaging innovations, such as the creation of a cup the companies could serve at their units worldwide. NextGen said 12 firms are now ...
Starbucks Reports Q1 Fiscal 2019 Results
Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December 30, 2018. GAAP results in fiscal 2019 and fiscal 2018 include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.
“Starbucks delivered solid operating results in the first quarter, demonstrating continued momentum in our business, as we drive our growth-at-scale agenda with focus and discipline,” said Kevin Johnson, president and ceo. “We are particularly pleased with the sequential improvement in quarterly comparable store transactions in the U.S., underpinned by our digital initiatives and improved execution of our in-store experience. With this solid start to the fiscal year, we are on track to deliver on our full-year commitments ...
Starbucks Delivers Expands in U.S. Powered by Uber Eats
Today, Starbucks Coffee Company (NASDAQ: SBUX) announced the expansion of its successful Starbucks Delivers pilot to an additional six cities across the United States. The expansion, in partnership with Uber Eats, begins today in San Francisco, the first of six new markets to offer the service to customers. Following an initial test in Miami, the company remains on track to bring Starbucks Delivers to nearly one-quarter of U.S. company-operated stores, with planned expansion to select stores in Boston, Chicago, Los Angeles, New York and Washington, D.C., in the coming weeks. In total, Starbucks Delivers will be available in seven U.S. cities this spring.
The U.S. expansion of Starbucks Delivers follows success of the test in Miami that began in fall of 2018. The test, also powered by Uber Eats, saw strong demand, including repeat business throughout the day and...
Starbucks Expands Best-in-Class Delivery Experience to 1,100 Stores in 17 Chinese Cities
“Starbucks Delivers” introduced across more than 1,100 stores in a total of 17 cities in China, with full-service coverage in Beijing and Shanghai
Piloted the operations of its first “Star Kitchens” in two Hema supermarkets in Shanghai and Hangzhou to complement delivery fulfillment capabilities of existing and future Starbucks stores
Starbucks on track to expand the delivery service to more than 2,000 Starbucks stores across 30 cities by the end of calendar year 2018
Within less than two months following the introduction of “Starbucks Delivers” in China, this best-in-class coffee delivery service, launched in partnership with Ele.Me, is now available across more than 1,100 stores in 17 Chinese cities, with full-service coverage in Beijing and Shanghai. In addition, Starbucks piloted the operations of its first...
Starbucks Names Patrick Grismer Chief Financial Officer
Starbucks Corporation (NASDAQ: SBUX) today announced Patrick Grismer has been appointed executive vice president and chief financial officer (cfo). Reporting to Kevin Johnson, Starbucks president and chief executive officer, Grismer succeeds Scott Maw, who will retire on November 30. Maw will remain a senior consultant through March 2019 to ensure a smooth transition, with Grismer joining the company on November 12 and assuming the role of cfo on November 30.
Grismer is an accomplished finance executive, bringing to Starbucks significant leadership experience at global, consumer-facing growth companies, including more than 25 years combined at Hyatt Hotels Corporation, Yum! Brands (parent company to KFC, Pizza Hut and Taco Bell) and The Walt Disney Company.
Grismer joins Starbucks from his current position as cfo of Hyatt, which he...
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