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Starbucks 1st Quarter Net Increases 10 Percent

Starbucks 1st Quarter Net Increases 10 Percent

Holiday sales, consumer products drive revenue

Strong holiday sales in December helped drive a 10-percent increase in first-quarter profit for Starbucks Corp., the company said Thursday.

For the quarter ended on January 1st, net earnings totaled $382.1 million, or 50 cents per share, compared with $346.6 million, or 45 cents per share, in the same quarter the previous year.

Commodity pressures, primarily coffee, continued to negatively impact the chain, resulting in a $105 million hit to operating income in the first quarter, the company reported.

Revenue rose 16 percent to $3.4 billion on a global same-store sales increase of 9 percent, reflecting a 7-percent increase in traffic and a 2-percent increase in average check, the company said.

The Seattle-based company’s consumer products group booked a 72-percent increase in revenue during the quarter, fueled by the November 1st launch of Starbucks-branded K-Cup packs and the company’s decision last year to take packaged coffee distribution in house following a split from Kraft Foods.

“A very successful holiday season drove strong global same-store sales, which, combined with continued operational efficiencies, delivered record results despite continued commodity cost pressures,” Troy Alstead, Starbucks’ chief financial officer, said in a statement. “We are well positioned to continue to drive strong revenue and profit growth throughout this year, and in years to come.”

Starbucks’ first-quarter earnings also marked the first use of a new format that follows the company’s reorganized regional segments.


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]


Starbucks

Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington, in 1971. As of early 2019, the company operates over 30,000 [5] locations worldwide.

Starbucks has been described as the main representative of "second wave coffee," a retrospectively termed movement that popularized artisanal coffee, particularly darkly roasted coffee. [6] [7] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. [6] [8]

Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, [9] Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers select "Starbucks Evenings" locations offer beer, wine, and appetizers. [10] Starbucks-brand coffee, ice cream, and bottled cold coffee drinks are also sold at grocery stores.

Starbucks first became profitable in Seattle in the early 1980s. [11] Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, [12] the company experienced revitalized prosperity with its entry into California in the early 1990s. [13] The first Starbucks location outside North America opened in Tokyo in 1996 overseas properties now constitute almost one-third of its stores. [14] The company opened an average of two new locations daily between 1987 and 2007. [15] In 2010, the company began its Starbucks Reserve program for single-origin coffees and high-end coffee shops. Starbucks operates six roasteries with tasting rooms and 43 coffee bars as part of the program. [16] In November 2019, the world's largest Starbucks opened in Chicago on the Magnificent Mile as the sixth roastery location. [17] [18]

On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would be replaced by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017, [19] and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. [20]