Tata Starbucks records first positive earnings with 28% increase in sales

INDIA - Tata Starbucks, a joint venture between the Tata Group and the American coffeehouse chain Starbucks has posted its first positive EBITDA after sales increased by 28%, almost doubling in the financial year 2018. According to ET Retail, improved sales were attributed to strong performance in in-store and new stores that were added this year.…

Starbucks plans to ditch single-use plastic straws by 2020

USA - The American coffee company, Starbucks Corp has said it will eliminate single-use plastic straws from its coffeehouses globally by 2020 and in return offer recyclable strawless lids and alternative-material straws, like paper or compostable plastic. The coffee chain which operates more than 28,000 coffeehouses is seeking to remove about 1 billion plastic straws…

Starbucks Corporation introduces Teavana as Chief Financial Officer to retire

USA – Starbucks Corporation, an American coffee company and coffeehouse chain, has announced that that Scott Maw, executive vice president and chief financial officer, is retiring effective Nov. 30, 2018. According to the company, it has already launched an external search for a new CFO. After his retirement, Maw will continue to support the transition in a…

Starbucks raises price of brewed coffee in most US stores

USA - Starbucks Corp has raised prices for brewed coffee by an average of 1 to 2% in the past year and according to the company, it was in line with industry practices, reported ET Retail. Some of the products affected included a regular drip coffee whose price rose by 10 cents to 20 cents…

Arla Foods signs strategic partnership with Starbucks

UK – Arla Foods, a global dairy company and co-operative, has signed a strategic partnership with Starbucks, a successful business partnership that allows Arla Foods to manufacture, distribute and market Starbucks premium milk-based ready-to-drink (RTD) coffee beverages for the EMEA region (Europe, Middle East and Africa.) According to the company, the two companies have signed…

Starbucks CEO steps down, considers to run for presidency

USA - Starbucks Corp. has announced that its long-serving CEO Howard Schultz has resigned as executive chairman effective June 26, according to a memo sent to employees Monday. Bloomberg cited Schultz had earlier said he would step down as CEO and turn that job over to Kevin Johnson and that he was considering a presidential…

Starbucks and other roasters to serve coffee with acrylamide cancer warnings

USA - A California judge has ruled that coffee sellers and vendors in the state have to serve coffee with acrylamide cancer warnings; these include bigger coffee makers such as Starbucks. According to the judge Elihu Berle’s ruling, Starbucks and other coffee makers did not show that the risk from consuming acrylamide, a possible cancer-causing…

Nestlé pays Starbucks US$7.1b for rights to sell coffee and products globally

SWITZERLAND - Nestlé has announced an agreement granting the company perpetual rights to market Starbucks consumer and foodservice products globally, outside of the company’s coffee shops. Starbucks will receive an up-front cash payment of US$7.15 billion for a business which generated annual sales of US$2 billion, as part of the transaction agreement. According to the…

Starbucks keen to go beyond coffee into food in India

INDIA - India has become the largest market in Asia in terms of food sales for Starbucks, the world’s biggest coffee retailer, its chief executive officer said. Tata Starbucks, the 50:50 joint venture between Starbucks Coffee Company and Tata Global Beverages in India, wants to increase its food play in the country by micro-localising cuisines,…

Starbucks reports 2% sales increase in Q4 2017 financial results

USA - Starbucks Corporation has reported financial results for its fourth quarter and 52-week fiscal year ended October 1, 2017, recording a global comparable store sales increase of 2%, which was driven by a 2% increase in average ticket and a 1% increase in transactions. According to the company, the sales increased up 3% excluding…