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Starbucks Reports Q4 and Full Year Fiscal 2019 Results
Starbucks Corporation today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended September 29, 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.
“I’m very pleased with our strong finish to fiscal 2019, as we sustained positive momentum across each of our business segments,” said Kevin Johnson, president and ceo. “Our U.S. business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by...
Starbucks Delivers Comes to Five New U.S. Markets
Starbucks Coffee Company today announced the latest expansion of Starbucks Delivers to five new U.S. markets, Atlanta, Denver, Phoenix, Philadelphia, and New Jersey, as well as further expansion in the New York Metro. The delivery program, which initially launched as a pilot in partnership with Uber Eats in late 2018, is now available in a total of 16 major U.S. markets and will reach national availability in early 2020.
“Following our recent commitment to make delivery available nationwide in 2020, we are excited to bring Starbucks Delivers to five more major U.S. markets,” said Roz Brewer, group president and chief operating officer for Starbucks. “The expansion of Starbucks Delivers is part of our continuous effort to...
Starbucks Announces Three New Appointments to Board of Directors
Starbucks Corporation announced today the appointment of Richard (Ritch) E. Allison, Jr., Chief Executive Officer of Domino’s; Andrew (Andy) Campion, Executive Vice President and Chief Financial Officer of NIKE; and Isabel Ge Mahe, Apple’s Vice President and Managing Director of Greater China, to the Starbucks Board of Directors. These appointments increase Starbucks Board of Directors to 13.
“As we pursue our goal of building an enduring company, I couldn’t be more excited to have Ritch, Andy and Isabel join our world-class board of directors,” said Kevin Johnson, Starbucks president and chief executive officer. “Their expertise across global technology, retail and customer experience at scale will accelerate our drive to innovate in a way that’s relevant to our customers and inspiring to our partners.”
All three joined the Starbucks Board of Directors effective Sept. 11, 2019. Other members of the Starbucks Board of Directors include...
Starbucks Reports Q3 Fiscal 2019 Results
Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended June 30, 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 strong operating performance in the third quarter, further demonstrating that our ‘Growth at Scale’ agenda is working,” says Kevin Johnson, president and ceo. “Our two targeted long-term growth markets, the U.S. and China, performed extremely well across a number of measures as a result of our focus on enhancing...
Starbucks Delivery to be Available Throughout the US in Early 2020
Today, Starbucks Coffee Company (NASDAQ: SBUX) announced plans to make Starbucks® Delivers available throughout the U.S. in early 2020 through an agreement with Uber Eats as the preferred delivery provider of Starbucks® items. The intention to expand follows an 11-market roll-out which demonstrated successful operational integration and received positive customer response to an effortless high-quality experience consistent with the Starbucks brand.
“We are driven to create new and unique digital experiences that are meaningful, valuable and convenient for our customers,” said Roz Brewer, group president and chief operating officer for Starbucks. “Partnering with Uber Eats helps us take another step towards...
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...
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