Page 4 - Starbucks

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

Delhi HC awards Rs 13 lakh to Starbucks in lawsuit against Jaipur cafe

Justice Navin Chawla permanently restrained LOL Cafe from using the "Frappuccino" mark to sell its products and opined that Starbucks Corporation is also entitled to the "cost of the suit"

Starbucks workers plan to go on strike at more than 100 US stores

Starbucks workers at more than 100 US stores say they're going on strike Thursday in what would be the largest labour action since a campaign to unionize the company's stores began late last year. The walkouts are scheduled to coincide with Starbucks' annual Red Cup Day, when the company gives free reusable cups to customers who order a holiday drink. Workers say it's often one of the busiest days of the year. Starbucks declined to say how many red cups it plans to distribute. Workers say they're seeking better pay, more consistent schedules and higher staffing levels in busy stores. Starbucks opposes the unionization effort, saying the company functions best when it works directly with employees. The Seattle coffee giant has more than 9,000 company-owned stores in the US. Stores in 25 states planned to take part in the labour action, according to Starbucks Workers United, the group organising the effort. Some workers planned to picket all day while others planned shorter walkouts.

Starbucks co-founder Zev Siegl spills the beans about building a brand

Starbucks co-founder Zev Siegl, who was on a visit to India to attend Global Investors Meet in Bengaluru, was seen at a restaurant enjoying filter coffee and masala dosa

Brewing at Tata Starbucks: Double-digit growth, premium store, masala chai

In the Asia Pacific, Starbucks has 142 Reserve stores

Tata Starbucks opens 1st Reserve store in Mumbai for premium services

Tata Starbucks, which has completed a decade of operations in a checkered manner in terms of profitability and expansion, on Tuesday announced the launch of its first Reserve store here. Tata Starbucks, which currently operates 300 stores across 36 cities in India and is an arm of Tata Consumer Products, has added 32 stores in 14 cities this year so far, atop 50 stores added last fiscal. Adding 32 stores across 14 cities so far is the largest store expansion in a single year, Tata Starbucks chief executive Sushant Dash told PTI here. Dash said the company, which is yet to report its maiden profit, is out of the pandemic blues with Q1 FY23 revenue more than doubling to Rs 251 crore. In FY22, its topline grew 78 per cent to Rs 636 crore. It reported a net loss of Rs 95 crore. But Dash insisted the company is cash positive while refusing to offer a timeline on when it will be able to turn profitable. Starbucks Reserve store aims to elevate the coffee experience of the brand by ...

Wall Street edges higher after rout on rate hike worries; Tesla up 1.5%

Traders price in 37% chance of 100 bps rate hike next week; Starbucks projects strong profit growth over next three years

Unionisation, first challenge brewing for Narasimhan as Starbucks CEO

Narasimhan holds a degree in mechanical engineering from the College of Engineering, University of Pune, India