Page 3 - Starbucks

Starbucks' efficiency gains bolster profit even as China, US drag sales

Starbucks this year rolled out its Siren System plan, which included updating its equipment to increase the pace of service at its stores, as the company turns to discounts and promotions

In China Starbucks tries to avoid price war, gets drawn into discounting

The stakes are high for Starbucks, which has come under growing pressure from investors recently due to weaker sales in its two biggest markets - the United States and China

After firing 7, Starbucks takes on federal labour agency before US SC

After Starbucks fired seven workers who were trying to unionize their Tennessee store, a US government agency obtained a court order forcing the company to rehire them. Now, Starbucks wants the Supreme Court to curb the government's power in such cases. On Tuesday, justices are scheduled to hear Starbucks' case against the National Labour Relations Board, the federal agency that protects the right of employees to organise. If the court sides with Starbucks, it could make it tougher for the NLRB to step in when it alleges corporate interference in unionization efforts. The hearing comes even as the animosity between Starbucks and Workers United, the union organising its workers, has begun to fade. The two sides announced in February that they would restart talks with the aim of reaching contract agreements this year. Starbucks and union representatives planned to meet Tuesday for their first bargaining session in nearly a year. Workers at 420 company-owned US Starbucks stores have ..

Tata Starbucks reports loss of Rs 24.97 cr, revenue up 70% in FY23

Tata Starbucks has reported a net loss of Rs 24.97 crore from its operations in India for the financial year ended March 31, 2023, according to financial data accessed through business intelligence platform Tofler. However, its revenue from operations was at Rs 1,086.89 crore for the said period, up 70 per cent helped by the addition of more cafes and expansion of the network in more cities in India. In India, Starbucks cafes are operated by Tata Starbucks Pvt Ltd. It is a 50:50 Joint Venture between Tata Consumer Product Ltd (TCPL) and Emerald City CV, a wholly-owned entity of Starbucks Corporation, USA. Tata Starbucks had reported a net loss of Rs 94.84 crore in FY22 and its revenue from operations was at Rs 636.11 crore. In FY23, Tata Starbucks' Advertising promotional expenses increased 84.45 per cent to Rs 34.05 crore. It was at Rs 18.46 crore a year ago. Besides, it has also paid a royalty of Rs 76.83 crore in the financial year ended March 31, 2023. Tata Starbucks has exp

Starbucks sued by group that calls its claim of ethical sourcing misleading

A consumer advocacy group filed a lawsuit against Starbucks on Wednesday, saying the company's claim that its coffee is ethically sourced is false and misleading. The National Consumers League cited media reports of abuses on farms that supply coffee and tea to Starbucks. The group said the cases cast doubt on Starbucks' packaging, which states that the company is committed to 100% ethical coffee sourcing. Starbucks said on Wednesday it was aware of the lawsuit and will aggressively defend against the asserted claims. The lawsuit was filed in Superior Court in the District of Columbia. Among the incidents cited in the lawsuit was a 2022 case in which police rescued 17 workers including three teenagers from a coffee farm in Brazil where they were made to work outdoors without protective equipment and lift 130-pound sacks of coffee. The case was covered by Reprter Brasil, a group of journalists that investigates workers' rights and environmental issues. Starbucks said on Wednesday

Starbucks plans to accelerate growth to 1,000 stores in India by 2028

The company currently operates over 390 stores across 54 Indian cities, including Mumbai, New Delhi, Hyderabad, Chennai, and Bengaluru

Starbucks plans to double stores in India as coffee consumption booms

The global coffee giant wants to operate 1,000 stores in India by 2028, and the focus will be in so-called tier-2 and tier-3 cities - those outside of its biggest metropolises

US companies are picky about investing in China except fast-food chains

American fast-food chains have decided a market of 1.4 billion people is simply too delicious to pass up. KFC China's parent company opened its 10,000th restaurant in China last month

Starbucks loses $11 billion market value due to poor sales, boycotts

Global political tensions are spilling fast into Seattle-based Starbucks Corporation, as the company has lost approximately 11 billion dollars in value, erasing 9.4 per cent of the company's total value. Within a span of 19 calendar-days, since its November 16 Red Cup Day promotion, shares of Starbucks have plummeted 8.96 per cent, which equates to a nearly USD11 billion loss, amid analysts' reports of slowing sales and a subdued response to the holiday season's offerings. The boycotts at the Seattle, Washington-based chain have deep roots, touching on sensitive geopolitical issues after the company found itself in hot water following a tweet from Starbucks Workers United, the union representing many of its baristas, expressing solidarity with Palestinians. Amid an ongoing boycott due to the Israeli occupation's aggression against the Gaza strip, the undercurrent of discontent signals a challenging brew for the company's future, an industry analyst said. Starbucks stocks declined f

Thousands of Starbucks workers expected to go on a one-day strike

Thousands of workers at more than 200 U.S. Starbucks stores plan to walk off the job Thursday in what organizers say is the largest strike yet in the two-year-old effort to unionize the company's stores. The Workers United union chose Starbucks' annual Red Cup Day to stage the walkout since it's usually one of the busiest days of the year. Starbucks expects to give away thousands of reusable cups Thursday to customers who order holiday drinks. The union said it was expecting more than 5,000 workers to take part in its Red Cup Rebellion. Around 30 stores also staged walkouts on Wednesday. Neha Cremin, a Starbucks barista in Oklahoma City, said she was striking to protest understaffing in stores, especially during promotions like Red Cup Day. Cremin said workers are already overwhelmed filling delivery orders, drive-thru orders, mobile orders and in-store orders; promotions add another layer of stress. Understaffing hurts workers and also creates an unpleasant experience for customer

Climate change: How Starbucks may be creating a new waste problem

All reusable cups have a "breakeven point"; If you drink from a ceramic mug 20 times before breaking it or sticking it in the attic, you're almost certainly better off using 20 paper cups instead

Major global firms warn of slow China sales as post-pandemic surge fades

Caterpillar, global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce

Starbucks brews up cheaper drinks in India as domestic rivals expand

Its new offerings are unique to India and unavailable in China, Singapore and the United States

The non-IT and IT services account for 54% of Smartworks' business

For Smartworks, the non-IT and IT services already account for 54% of their business. This is far higher than the broader real estate market, where they account for 40% of the inventor

Amazon to Walmart: Workers' well-being tops agenda at annual company meet

Shareholders and companies have reached agreements on about a third of the requests. Most of the rest will go to a vote

New Starbucks CEO Laxman Narasimhan plans to work in stores once a month

Starbucks' new CEO Laxman Narasimhan says he plans to work a half-day shift once a month in one of the company's stores in an effort to stay close to its culture and customers. Narasimhan, who took the reins as CEO earlier this week, said in a letter to Starbucks' employees Thursday that he also expects the company's leadership team to be connected and engaged in stores. While our performance is strong, our health needs to be stronger, Narasimhan wrote in the letter. We must care for the artists and the theater in the front of our stores and the factory in the back. Having a CEO work in stores is new for Seattle-based Starbucks, but not unprecedented among big companies. DoorDash CEO Tony Xu and his executive team make DoorDash deliveries once a month, for example. Narasimhan, 55, issued the letter just prior to the company's annual meeting, which was held virtually. The former PepsiCo executive has spent the last six months immersing himself in Starbucks, earning his barista ...

Starbucks Union to greet its new CEO Laxman Narasimhan with 100-cafe strike

The work stoppage comes one day before Starbucks's annual shareholder meeting, the first for new CEO Laxman Narasimhan, who officially took the reins from Howard Schultz this week

New Starbucks CEO Laxman Narasimhan takes reins early from Howard Schultz

Narasimhan, 55, has also joined the company's board of directors, Starbucks said in a statement

Starbucks illegally threatened, sacked employees: US labour board rules

The dispute involves workplace activism in 2019, before the launch of the current Starbucks Workers United campaign which has reached hundreds of the company's US cafes

Over 1,000 Starbucks baristas at 100 US stores are planning 3-day walkout

Starbucks workers around the US are planning a three-day strike starting Friday as part of their effort to unionize the coffee chain's stores. More than 1,000 baristas at 100 stores are planning to walk out, according to Starbucks Workers United, the labur group organising the effort. The strike will be the longest in the year-old unionization campaign. This is the second major strike in a month by Starbucks' US workers. On November 17, workers at 110 Starbucks stores held a one-day walkout. That effort coincided with Starbucks' annual Red Cup Day, when the company gives reusable cups to customers who order a holiday drink. More than 264 of Starbucks' 9,000 company-run US stores have voted to unionize since late last year. Starbucks opposes the unionization effort, saying the company functions better when it works directly with employees. But the company said last month that it respects employees' lawful right to protest. Tori Tambellini, a former Starbucks shift supervisor and un