Latest news with #STARBUCKS
The Star
30-07-2025
- Business
- The Star
Starbucks CEO backs brand reset as turnaround efforts drive sales beat
STARBUCKS reported better-than-expected revenue rise for the third quarter, as demand in China improved while investments in labor and store operations, and changes to the menu helped it offset slowing consumer spending in its domestic market. The Seattle-based company's shares rose 3.6% to $96.33 in extended trading on Tuesday. After several quarters of falling sales, the coffee chain is in the midst of a "Back to Starbucks" initiative - a major brand reset - under CEO Brian Niccol. Since taking the top job in August, Niccol has pushed for a simplified menu, freshly baked food, cups with handwritten messages and quicker service. Niccol spoke expansively on Starbucks' turnaround efforts on Tuesday's post-earnings call, saying they were "ahead of expectations." He laid out examples of what was changing at stores and in customer experience. He said he wanted to change the "feel" of stores with "greater texture, warmth and layered design," and replace thousands of seats that were removed in recent years. By the end of 2026, at least 1,000 stores across North America will be upgraded, Niccol said. Starbucks is also piloting a new, lower-cost "coffee house of the future" design, featuring 32 seats and a drive-thru opening in 2026, along with a small-format version debuting soon in New York City. Niccol has pledged to increase investments in staffing in all 10,000-plus Starbucks-owned U.S. stores by the end of the summer. The company said it would invest over half a billion dollars of additional labor hours into its U.S. company-operated stores over the next year. Starbucks' net revenue rose 3.8% to $9.46 billion, beating analysts' estimate of $9.31 billion, although its overall same-store sales fell 2% for the quarter ended June 29, its sixth straight quarterly contraction. Analysts on average had estimated a 1.19% dip, according to data compiled by LSEG. In its largest North America market, the drop in quarterly same-store sales was flat at 2%. China comparable store sales increased 2%, compared with no growth in the second quarter. Intense competition from local rivals like Luckin Coffee and Cotti Coffee and increasingly frugal consumers prompted Starbucks to cut prices on select iced drinks by an average of 5 yuan last month. "The report came in less worse than expected, given some strength in China, but it remains a turnaround story," said Dave Wagner, portfolio manager at Aptus Capital Advisors. The company reported a profit of 50 cents per share on an adjusted basis, missing estimates of 65 cents. That excluded an 11 cent per share hit, partly from a leadership meet in Las Vegas earlier this year, when the company flew and housed more than 14,000 store managers and leaders from across North America to hear from corporate executives about the "Back to Starbucks" plan. Attendees were also treated to a private Bruno Mars concert. Operating margin in the third quarter contracted 650 basis points to 10.1% from the prior year, owing to higher spending tied to the business turnaround, additional labor hours and the leadership meet. "While there is still work to be done, the company's labor investments appear to be making a difference in peak-hour throughput," said R.J. Hottovy, head of analytical research at Starbucks has been exploring options such as strategic partnerships and joint ventures for its China business, which was valued at up to $10 billion, according to media reports earlier this month. Executives said on Tuesday that the company had received significant interest from more than 20 interested parties and was evaluating its options as it aimed to retain a "meaningful stake" in the business. - Reuters
Business Times
30-07-2025
- Business
- Business Times
Starbucks CEO details brand reset plan as turnaround efforts drive sales beat
STARBUCKS reported better-than-expected revenue rise for the third quarter, as demand in China improved while investments in labor and store operations, and changes to the menu helped it offset slowing consumer spending in its domestic market. The Seattle-based company's shares rose 3.8 per cent to US$96.50 in extended trading on Tuesday. After several quarters of falling sales, the coffee chain is in the midst of a 'Back to Starbucks' initiative - a major brand reset - under CEO Brian Niccol. Since taking the top job in August, Niccol has pushed for a simplified menu, freshly baked food, cups with handwritten messages and quicker service. Niccol spoke expansively on Starbucks' turnaround efforts on Tuesday's post-earnings call, saying they were 'ahead of expectations.' He laid out examples of what was changing at stores and in customer experience. He said he wanted to change the 'feel' of stores with 'greater texture, warmth and layered design,' and replace thousands of seats that were removed in recent years. By the end of 2026, at least 1,000 stores across North America will be upgraded, Niccol said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Starbucks is also piloting a new, lower-cost 'coffee house of the future' design, featuring 32 seats and a drive-thru opening in 2026, along with a small-format version debuting soon in New York City. Niccol has pledged to increase investments in staffing in all 10,000-plus Starbucks-owned US stores by the end of the summer. The company said it would invest over half a billion dollars of additional labour hours into its US company-operated stores over the next year. Starbucks' net revenue rose 3.8 per cent to US$9.46 billion, beating analysts' estimate of US$9.31 billion, although its overall same-store sales fell 2 per cent for the quarter ended June 29, its sixth straight quarterly contraction. Analysts on average had estimated a 1.19 per cent dip, according to data compiled by LSEG. In its largest North America market, the drop in quarterly same-store sales was flat at 2 per cent. China comparable store sales increased 2 per cent, compared with no growth in the second quarter. Intense competition from local rivals like Luckin Coffee and Cotti Coffee and increasingly frugal consumers prompted Starbucks to cut prices on select iced drinks by an average of 5 yuan last month. 'The report came in less worse than expected, given some strength in China, but it remains a turnaround story,' said Dave Wagner, portfolio manager at Aptus Capital Advisors. The company reported a profit of 50 cents per share on an adjusted basis, missing estimates of 65 cents. That excluded an 11 cent per share hit, partly from a leadership meet in Las Vegas earlier this year, when the company flew and housed more than 14,000 store managers and leaders from across North America to hear from corporate executives about the 'Back to Starbucks' plan. Attendees were also treated to a private Bruno Mars concert. Operating margin in the third quarter contracted 650 basis points to 10.1 per cent from the prior year, owing to higher spending tied to the business turnaround, additional labour hours and the leadership meet. 'While there is still work to be done, the company's labour investments appear to be making a difference in peak-hour throughput,' said R.J. Hottovy, head of analytical research at Starbucks has been exploring options such as strategic partnerships and joint ventures for its China business, which was valued at up to US$10 billion, according to media reports earlier this month. Executives said on Tuesday that the company had received significant interest from more than 20 interested parties and was evaluating its options as it aimed to retain a 'meaningful stake' in the business. REUTERS
Hype Malaysia
27-07-2025
- Entertainment
- Hype Malaysia
Spend The Remaining Days Of Summer With STARBUCKS' New Drinks & Chill Wave Collection!
Summer is almost coming to an end but STARBUCKS has dropped their new beverages and collections to make the autumn coming just a little more bearable. The final days of the season may be slipping away, but the fun's far from over—especially with fresh new flavours and vibrant designs arriving in stores from 22nd July (Tuesday) onwards. Whether you're easing back into routine or holding onto that summer glow, STARBUCKS is here to help you savour every golden moment. From bold, refreshing drinks to playful merchandise, this latest lineup brings a splash of brightness to the season's end. Whether you're craving a cool pick-me-up or simply looking to add some colour to your day, there's something waiting just for you. Relax with Summer's Brightest Beverages Kicking off their summer beverage lineup, STARBUCKS introduces three refreshing new flavours crafted to help you stay cool in style. Here's a look at the exciting options available: Starbucks Golden Caramel Churro Latte (RM19.00) : A smooth caramel with cosy cinnamon churro notes for a sweet, satisfying drink. Finished with a drizzle of caramel, crisp churro bits, and a sprinkle of churro powder, it offers a rich, creamy sip with just the right touch of crunch. : A smooth caramel with cosy cinnamon churro notes for a sweet, satisfying drink. Finished with a drizzle of caramel, crisp churro bits, and a sprinkle of churro powder, it offers a rich, creamy sip with just the right touch of crunch. Starbucks Muscat Grape Cream Frappuccino Blended Beverage with Jelly (RM19.00): a refreshing mix of icy sweetness and real green grape pieces. Infused with the floral aroma of muscat grapes, this fruity drink features grape jelly, creamy vanilla whipped topping, and a drizzle of muscat grape syrup for a bright, uplifting finish. a refreshing mix of icy sweetness and real green grape pieces. Infused with the floral aroma of muscat grapes, this fruity drink features grape jelly, creamy vanilla whipped topping, and a drizzle of muscat grape syrup for a bright, uplifting finish. Starbucks Muscat Grape Cold Brew with Jelly (RM19.00): This vibrant drink blends bold cold brew with the crisp aroma of muscat grapes, a splash of lemonade for brightness, and sweet green grape jelly filled with real grape pieces—turning everyday moments into something a little more special. Cool Down With Their New Chill Wave Collection Moving onto the ocean-inspired Summer Chill Wave collection, STARBUCKS captures the carefree spirit of summer with a vibrant blend of cool blues and a splash of energetic orange. These playful designs bring a refreshing pop of colour that's perfect for brightening up your summer style. The collection features the Stanley Summer Chill Wave Quencher Cold Cup (RM259), designed with double-wall vacuum insulation to keep drinks hot for up to 5 hours or cold for up to 12. Also included in the collection is the sparkling Summer Chillwave Rhinestone Stainless Steel Tumbler (RM489), adding a touch of glamour, and the Hydration Bottle with a playful sticker pack (RM59), letting you personalise your bottle while staying refreshed all day. Explore Burst Of Flavour With STARBUCKS Voyage Blend And finally, wrap up your summer journey with STARBUCKS Voyage Blend™ 2025 (RM65.00)—a unique coffee created to honour the spirit of discovery and connection. Blending the sweetness of Ugandan beans, the deep richness of beans from Timor-Leste, and the vibrant herbal notes of Colombian beans, this brew delivers a smooth, layered flavour. Perfect for savouring during quiet mornings or winding down after a long day, it's a flavorful way to reflect on the season's adventures. Zaima Humaria contributed to this article.
Yahoo
09-05-2025
- Entertainment
- Yahoo
There's no ‘s' in Pike Place – Just ask Jeopardy host Ken Jennings
Host of 'Jeopardy!' and Washington native Ken Jennings set the record straight this week: there is no 's' in Pike Place. On an episode that aired Wednesday, a contestant was asked to solve the following: 'IF THE 1960S PLAN TO REPLACE THIS SEATTLE MARKET WITH HIGH-RISES HAD SUCCEEDED, THERE MIGHT BE NO STARBUCKS TODAY.' Contestant Dan Moren, a writer and podcaster from Massachusetts, buzzed in. 'What is Pike's Place Market?' he answered. 'No. Sorry, Dan, we are sticklers in Seattle. It's Pike Place,' Jennings responded. Close – but not close enough for us Washingtonians. A Reddit user posted a clip of the interaction between the contestant and Jennings, who is from Edmonds: Jeopardy tonight puts an end to Pikes Place by u/mybarkingDog in Seattle The iconic Market sits above Elliott Bay off Pike Street (not Pikes Street) and First Avenue. The street was named by Arthur Denny in 1869, after his friend John Pike. (Again – Pike, not Pikes.) It was established in 1907 by Seattle City Councilman Thomas P. Revelle to allow farmers to sell directly to consumers. It is one of the oldest and largest continuously operating public markets in the United States. The Market spans nine acres in the center of downtown Seattle. Millions of people visit the Market each year to purchase locally made and locally sourced foods and goods. The Public Market Center sign and clock were installed in 1937. 1.5 acres of Pike Place were listed on the National Register of Historic Places in 1970. A larger area was added to the historic district listing in 1972. The first Starbucks opened in March of 1971. To read more about the history of Pike Place Market, click here.
The Sun
24-04-2025
- Business
- The Sun
Starbucks reveals new summer menu shake-up with never-seen-before drinks based on popular dessert
Daniel Fessahaye Published: Invalid Date, STARBUCKS fans are in for a treat as the coffee chain rolls out a brand-new summer menu. The range includes dessert-inspired drinks that have never been seen before. 5 From April 24, Starbucks Rewards members can get their hands on three new Tiramisu-themed drinks, ahead of the full launch to all customers on May 1. Inspired by the classic Italian pudding, the range includes a Tiramisu Cream Iced Latte worth £4.95, and a Tiramisu Cream Iced Oat Shaken Espresso, and a Tiramisu Frappuccino that will both set you back £5.05. Each one is made with vanilla mascarpone flavour sauce, finished with a mocha drizzle, and topped with a creamy cold foam dusted with cocoa powder. The drinks start from £4.95 – and are designed to give a sweet twist to your usual caffeine hit. But the sweet stuff doesn't stop there. Also arriving next week is the new Melon Pearl Starbucks Refresha, packed with popping melon pearls, and the Frozen Mango Dragonfruit Refresha, a tropical ice-blended drink loaded with fruit flavour. The fruity sips come in from £4.75 – but be warned, the melon pearls could pose a choking hazard for young children. The menu isn't just about drinks either. Here's the full list of items: Frozen Mango Dragonfruit Starbucks Refresha – from £4.75 Melon Pearl Starbucks Refresha – from £4.75 Tiramisu Cream Iced Latte – from £4.95 Tiramisu Cream Iced Oat Shaken Espresso – from £5.05 Tiramisu Frappuccino – from £5.05 Huge coffee chain with over 1,300 shops to close high street shop Meat Free Sausage Sandwich (NEW) – from £4.95 Mexican Style Three Bean Wrap (NEW) – from £4.20 Chicken Salad Sandwich (NEW) – from £3.40 Signature Breakfast Sandwich (RETURNING) – from £4.85 Chicken, Mozzarella and Pesto Focaccia (RETURNING) – from £5.40 Boston Cream Muffin (RETURNING) – from £2.90 Raspberry and Coconut Loaf Cake (RETURNING) – from £2.90 Starbucks is also adding new lunch bites and snacks, with a mix of plant-based and meat options to keep all customers covered. Customers who aren't already members can sign up to Starbucks Rewards via the app to get early access and collect points for freebies. The full menu hits stores nationwide from May 1 – but it's only available while stocks last. REWARDS SHAKE-UP Starbucks made a big change to its rewards scheme back in January. The updated programme promised that customers would be able to earn free drinks more quickly, but they would need to spend more to qualify for other perks. Additionally, while freebies became easier to obtain, achieving "gold" membership status became more challenging. When announcing the changes, Starbucks said: "We will be switching up your Stars from 3 per £1 to 10 per £1! "We're updating the Starbucks Rewards program in the new year. "Introducing new products and tiers for Star redemption and refining Gold Level status, including amending the Gold Level threshold to 2500 Stars. "Meanwhile, your Star value, credit, any free drinks and Reward status remain the same throughout the update." The company also reassured customers that Stars would still be redeemable for up to two years and could now be used across a wider range of items. Five things you didn't know about Starbucks The name was inspired by a book Co-founders Gordon Bowker, Jerry Baldwin, and Zev Siegl opened the first Starbucks in Seattle on March 30, 1971. The name was inspired by author Herman Melville's famous novel, Moby-Dick - Starbuck was the name of the first mate on the ship, the Pequod. It has its own coffee farm Purchased in 2013, Hacienda Alsacia is a 240-hectare coffee farm located in Costa Rica. Customers can't visit, but they can take a virtual tour. Different apron colours Did you ever notice some of the Starbucks staff wearing different colour aprons? Green, Black, Red and there's also a few special editions. Before there were Sharpie pens Starbucks is known for writing your name on your drink cup, but before this idea came to fruition, the position of a cup on the bar would tell the barista how to make the beverage. Upside down for decaf! Millions of fans, millions of drinks US Starbucks stores will sell around 5 million drinks daily in 2024, and the top-selling of which is currently Caramel Macchiato.
