SBUX
Starbucks CorporationNASDAQ
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  • Yesterday, 9:31 AM
    • Music to the ears of Starbucks (NASDAQ:SBUX) investors is the promise from CEO Howard Schultz that the company is only in the "early days" of growth. Despite the consternation of Wall Street analysts, the company isn't sweating out the quarterly U.S. comparable sales comparisons.
    • The Starbucks leader pointed to the Reserve business and strong growth in China as revenue drivers. He also noted that there is no evidence of cannibalization from the Starbucks expansion track.
    • Schultz also continued his broad theme that started almost two years during the company's conference calls on the demise of brick-and-mortar retail in the U.S. As he sees it, Starbucks will prosper as other chains revert to an e-commerce model leaving a void for consumers seeking social interaction. The Reserve and Roasteries stores are expected to premiumize the brand to help fill this need for a meeting place.
    • Incoming CEO Kevin Johnson also took the stage. Johnson said cold beverages and food in the lunch daypart will be significant sales drivers in the coming years. Cold beverages are seen accounting for 50% of all drinks sales. The tech-experienced Johnson also dug into the digital side of the Starbucks business and explained how data mining is playing in to strategy and ROI.
    • Source: Starbucks Investor Day live stream
    • Previously: Starbucks talks future strategy at Investor Day event (Dec. 7)
    | Yesterday, 9:31 AM
  • Yesterday, 8:24 AM
    • Starbucks (NASDAQ:SBUX) management is presenting today in New York City at the Investor Day event. Some key updates and product reveals have already been disclosed.
    • The financial highlights from SBUX include 5-year targets for 10% revenue growth, 15%-20% EPS growth and mid-single digit comparable sales growth growth annually.
    • Starbucks says it plans to open 12K stores globally by 2021.
    • The company notes that it's on track to open more than 5K stores in China by 2021 and expects that China will eventually be a bigger market than the U.S.
    • The channel development segment is expected to generate an incremental $1B in revenue, increase operating income by 75% and double its ready-to-drink business outside of the U.S.
    • Starbucks aims to open 1,000 Reserve stores over time. Standalone Princi are also scheduled to be launched in Seattle, New York and Chicago late in 2017.
    • My Starbucks Barista is introduced as an AI-powered powered complement to the Starbucks mobile app that can help customers place their orders via voice command or messaging interface.
    • Next spring, the launch of bottled Starbucks Cold Brew Cocoa and Honey with Cream in select markets across U.S. is planned.
    • "Industry-leading innovation is driving our core business and creating further separation from competitors all around the world," says CEO Howard Schultz. The exec is expected to outline the upside for the Roasteries and Starbucks Reserve stores later during the conference.
    • SBUX -0.16% premarket ti $57.35.
    | Yesterday, 8:24 AM | 24 Comments
  • Tue, Dec. 6, 12:52 PM
    • Starbucks (SBUX -0.2%) is trading flat so far this week ahead of the company's highly-anticipated Investor Day meeting tomorrow.
    • Management is expected to update on the company's long-term retail premiumization plan which features a broader-rollout of the Roasteries concept and Reserve store format.
    • For the near-term investor, updates on the coffee chain's geographic traffic and comparable sales trends could move shares.
    • CEO Howard Schultz's commentary on the overall retail sector are always of interest.
    • Seeking Alpha will provide updates as the annual Investor Day meeting proceeds.
    | Tue, Dec. 6, 12:52 PM
  • Fri, Dec. 2, 10:33 AM
    • Starbucks (NASDAQ:SBUX) is down 2.68% as investors settle down after some initial panic selling off of news that Howard Schultz is stepping down as CEO.
    • Schultz and CEO-in-waiting Kevin Johnson made a reassuring appearance on CNBC this morning (video) and there is plenty of analyst commentary to chew on.
    • RBC Capital: "We believe the company is transitioning to a new CEO during a period of strength, with a solid macro-economic backdrop, a strong leadership team, and a robust pipeline of innovation in technology, food, beverages."
    • Wells Fargo: "While we acknowledge that Schultz is without question one of the strongest and most visionary leaders in the consumer/retail world, we believe the succession planning put in place several years ago assures the recent exceptional performance will likely continue."
    • Cowen: The analyst team sees the new narrowed focus by Schultz on the Roastery and Reserve business as an effort to "premium-ize" the brand. The firm advises to buy SBUX on the pullback.
    • On Seeking Alpha, Josh Arnold put the Schultz departure in perspective."Schultz isn't retiring - he isn't going anywhere - he's just refocusing his efforts towards growth instead of operations," he wrote. "Johnson seems more than capable of filling those shoes and not only do I not think this is a negative event, I see a lot of positives," adds Arnold.
    • Previously: Starbucks CEO to step down next April (Dec. 1)
    • Previously: The master plan at Starbucks features a tech-savvy CEO and retail innovation (Dec. 1)
    | Fri, Dec. 2, 10:33 AM | 5 Comments
  • Thu, Dec. 1, 5:41 PM
    • Starbucks (NASDAQ:SBUX) CEO Howard Schultz said on a conference call that his replacement will be better prepared to handle the tech changes coming to the company. Kevin Johnson spent 33 years in the tech industry, including 10 years at Microsoft and 5 years at Juniper Networks as CEO.
    • Schultz reiterates that he's not leaving the company, but will shift focus to the Reserve Roasteries business.
    • The Starbucks founder is convinced that the U.S. is over-retailed. He says to survive traditional bricks-and-mortar retailers have to evolve their physical spaces into relevant customer destinations such as the Reserve concept.
    • The company plans to issue more details on long-term strategy at its Investor Day event next week in NYC.
    • Starbucks conference call webcast
    • Previously: Starbucks CEO to step down next April (Dec. 1)
    • SBUX -3.57% AH to $56.42.
    | Thu, Dec. 1, 5:41 PM | 12 Comments
  • Thu, Dec. 1, 4:06 PM
    • Starbucks (NASDAQ:SBUX) announces that current COO Kevin Johnson will take over the CEO position on April 3, 2017.
    • Howard Schultz will be appointed executive chairman on April 3 and will shift his focus to innovation, design and development of Starbucks Reserve Roasteries around the world.
    • SBUX -4.22% after hours to $56.03.
    • Source: Press Release
    | Thu, Dec. 1, 4:06 PM | 67 Comments
  • Fri, Nov. 25, 7:54 AM
    • Millions of workers poised to start earning overtime pay next week are now in limbo after a federal judge in Texas blocked new wage rules set by the Department of Labor with a temporary injunction.
    • The new DOL rule raised the exemption for OT pay to $47,476 in annual pay, from the current level of $23,360, impacting a huge number of workers in the retail industry.
    • Piper Jaffray says it's uncertain how the Obama administration will react. It's also unclear if major companies have the ability to quickly pull back on the new OT rules set to go into effect on December 1 due to the programmed changes in their payroll and IT systems.
    • The investment firm says the retailers most affected by overtime changes include Dollar General (NYSE:DG), Dollar Tree (NASDAQ:DLTR), Sally Beauty Holdings (NYSE:SBH), Regis Corporation (NYSE:RGS), Bojangles (NASDAQ:BOJA), Starbucks (NASDAQ:SBUX), Sonic (NASDAQ:SONC), Noodles (NASDAQ:NDLS), Potbelly (NASDAQ:PBPB), Del Taco (NASDAQ:TACO) and Zoe's Kitchen (NYSE:ZOES).
    • Source: Bloomberg
    | Fri, Nov. 25, 7:54 AM | 23 Comments
  • Tue, Nov. 22, 4:03 PM
    • Starbucks (NASDAQ:SBUX) confirms it raised some prices at most of its U.S. stores on November 10.
    • The hikes were focused on cold beverage and bakery menu items.
    • The company says it expects a 0.5% increase in average ticket due to the select menu item price hikes.
    • Source: Bloomberg
    | Tue, Nov. 22, 4:03 PM | 28 Comments
  • Tue, Nov. 15, 4:47 PM
    • Starbucks (NASDAQ:SBUX) had declared $0.25/share quarterly dividend, 25% increase from prior dividend of $0.20.
    • Payable Dec. 2; for shareholders of record Nov. 17; ex-div Nov. 15.
    | Tue, Nov. 15, 4:47 PM | 9 Comments
  • Wed, Nov. 9, 5:56 AM
    • Three Bay Area cities have voted to levy a tax on sodas and other sugary drinks in an effort to curb obesity and diabetes.
    • The measure passed by wide margins in San Francisco, Oakland and Albany (a separate vote in Boulder, Colorado is on track to pass as well).
    • In 2014, Berkeley became the first city in the country to levy a soda tax and Philadelphia became the second in June.
    • Related stocks: KO, PEP, DPS, MNST, FIZZ, SBUX, UL, PG
    | Wed, Nov. 9, 5:56 AM | 45 Comments
  • Wed, Nov. 9, 1:49 AM
    • A Google drone might deliver your Chipotle burrito, but it looks like it won't deliver your Starbucks coffee (NASDAQ:SBUX).
    • The Project Wing drone delivery program, now a part of Alphabet (GOOG, GOOGL), has scrapped a Starbucks partnership as part of a cost-cutting move, sources told Bloomberg.
    • The budget cuts also mean a hiring freeze and an attempt to shift employees to other projects.
    | Wed, Nov. 9, 1:49 AM | 2 Comments
  • Tue, Nov. 8, 9:45 AM
    • China will be the second biggest market for Starbucks (SBUX -0.1%) within five years if the company stays on target with growth.
    • In an interview with the South China Morning Post, management exuded confidence over the coffee chain's future in the region.
    • "This is the early chapter of our China growth right now. We have barely even scratched the surface," noted Starbucks China head Belinda Wong.
    • "There is plenty of space to infill in first and second tier cities where we have already opened – Beijing, Guangzhou, Shenzhen, Shanghai," she added.
    • Starbucks reported a 6% increase in comparable sales in China during Q3.
    • Previously: Margins and comparable sales track higher at Starbucks (Nov. 3)
    | Tue, Nov. 8, 9:45 AM | 9 Comments
  • Fri, Nov. 4, 3:50 PM
    • Starbucks (NASDAQ:SBUX) CEO Howard Schultz delved into some interesting large-scale retail issues during the company's earnings call yesterday.
    • Schultz first noted that FedEx CEO Fred Smith shared some research with him confirming the significant drop in store traffic globally amid the 'Amazon Effect" across industries -- before he really turned up the retail bear rhetoric.
    • "There's no doubt that over the next five years or so, we are going to see a dramatic level of retailers not be able to sustain their level of core business as a traditional bricks-and-mortar retailer, and their omni-channel approach is not going to be sustainable to maintain their cost of their infrastructure."
    • So where does that leave Starbucks? Schultz thinks a shrunken retail landscape leaves Starbucks as a place where people will want to gather for human contact.
    • "We are going to be in a very unique position five years, 10 years down the road because there's going to be a lot less people competing for those customers. I'm not talking about the coffee category; I'm talking overall."
    • Starbucks earnings call transcript
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    | Fri, Nov. 4, 3:50 PM | 23 Comments
  • Thu, Nov. 3, 4:20 PM
    • Starbucks (NASDAQ:SBUX) is higher after edging past estimates with its FQ4 report.
    • The company reported global comparable store sales rose 4% during the quarter vs. +4.9% expected by analysts.
    • The average ticket was up 5% at comparable stores, while the total number of transactions was down 1% from a year ago.
    • Comp growth by region: Americas and U.S. +5%; EMEA -1%; China/Asia Pacific +1% (+6% in China vs. +5.4% expected).
    • U.S. comparable store sales were up 4% on a 6% boost in average ticket. Mobile Order and Pay accounted for 6% of sales, up a point sequentially.
    • The company's operating margin increased 180 bps to 21.5%.
    • FY17 guidance: Starbucks expects mid single-digit global comparable sales growth. Double-digit revenue growth is also anticipated. The company forecasts a net addition of 2.1K stores during the year. Non-GAAP EPS of $2.12 to $2.14 is expected.
    • Previously: Starbucks beats by $0.01, beats on revenue (Nov. 3)
    • SBUX -3.48% AH to $51.77.
    | Thu, Nov. 3, 4:20 PM | 15 Comments
  • Thu, Nov. 3, 4:07 PM
    • Starbucks (NASDAQ:SBUX): FQ4 EPS of $0.56 beats by $0.01.
    • Revenue of $5.71B (+16.3% Y/Y) beats by $30M.
    • Shares +6.2%.
    • Press Release
    | Thu, Nov. 3, 4:07 PM | 47 Comments
  • Wed, Nov. 2, 5:35 PM