Latest news with #StarbucksUK
The Sun
24-05-2025
- Business
- The Sun
Major coffee shop chain with over 1,000 venues across the UK suddenly closes branch with hastily-stuck sign on its door
A HUGE coffee chain with more than 1,300 UK branches has shuttered one of its high street shops. Starbucks abruptly pulled the plug on its coffee house in Headington, Oxford. 1 The location on the town's London Road notified punters that the "shop is now closed" on a store window sign. The coffee giant first waved in customers in October 2007. It is unknown why Starbucks decided to close down the location. Starbucks now has two remaining locations in Oxford, according to its website, which are located on Cornmarket Street and Westgate Shopping Centre. The Sun Online has reached out to Starbucks for comment. In April last year, Starbucks announced the closure of one of its Reading cafes, leaving some shoppers "shocked". And in March 2024, locals were saddened to hear their Dalton Park store, in Murton, Country Durham, would be closing down in hours. RETAIL APOCALYPSE Both independent and industry giants have been struggling with rising costs and reduced footfall over the past few years. Dozens of shops are set to close across the country before the end of the month in the latest blow to UK high streets. Just a few months into 2025 and it's already proving to be another tough year for many major brands. Rising living costs - which mean shoppers have less cash to burn - and an increase in online shopping has battered retail in recent years. Shock Closure: Fisher Tours Ends Operations After 22 Years In some cases, landlords are either unwilling or unable to invest in keeping shops open, further speeding up the closures. Smiggle isn't the only stationary shop shutting its doors, more WHSmiths stores are set to close in the next few months. The huge sports retailer, Sports Direct is axed its Newmarket Road store in Cambridge on April 18. Whilst, Red Menswear in Chatham in Medway, Kent, shut for the final time on Saturday, March 29, after selling men's clothing since 1999. A couple months ago, Essential Vintage told followers on social that it would be closing down after they had been "priced out" because of bigger players in the market such as Vinted. Jewellery brand Beaverbrooks is also shutting three shops early this month. New Look bosses made the decision to axe nearly 100 branches as they battle challenges linked to Autumn Budget tax changes. Approximately a quarter of the retailer's 364 stores are at risk when their leases expire. This equates to about 91 stores, with a significant impact on New Look's 8,000-strong workforce. It's understood the latest drive to accelerate closures is driven by the upcoming increase in National Insurance contributions for employers. The move, announced by Chancellor Rachel Reeves in October, is hitting retailers hard - and the British Retail Consortium has predicted these changes will create a £2.3billion bill for the sector. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
Yahoo
30-04-2025
- Business
- Yahoo
Starbucks reports 2% net revenue increase to $8.8bn in Q2 FY 2025
Starbucks has reported a 2% increase in consolidated net revenues in the second quarter (Q2) of fiscal year (FY) 2025, reaching $8.8bn, which translates to a 3% rise on a constant currency basis. The period saw the opening of 213 net new stores, bringing the total to 40,789 stores globally, split between 53% company-operated and 47% licensed outlets. The US and China remain Starbucks' largest markets, constituting 61% of the company's portfolio with 17,122 and 7,758 stores, respectively. However, global comparable store sales saw a 1% decrease, attributed to a 2% reduction in comparable transactions, though this was slightly offset by a 1% rise in average ticket prices. In North America, comparable store sales also fell by 1%, with a 4% drop in comparable transactions partly counterbalanced by a 3% increase in average ticket prices. Specifically, these sales in the US were down by 2%, reflecting the same transaction decline and ticket increase as the broader North American market. Conversely, international comparable store sales rose by 2%, driven by a 3% boost in comparable transactions despite a 1% decrease in average ticket prices. China's store sales remained unchanged, with transaction growth neutralised by a reduction in average ticket prices. The North America segment saw a 1% revenue increase during the period to $6.5bn, largely due to a 5% growth in net new company-operated stores over the past year. However, operating income dropped to $748.3m in Q2 FY 2025 from $1.1bn in the same quarter the previous year due to deleverage and additional labour in support of 'Back to Starbucks'. The International segment's net revenues rose by 6% to $1.9bn, spurred by an 8% growth in company-operated stores, expansion in the licensed store business, and additional revenue from the acquisition of a licensed business partner in the UK. Despite this, operating income for the channel development segment decreased to $217.0m, down from $233.8m in Q2 FY 2024 due to high promotional activity and restructuring costs. Starbucks chairman and CEO Brian Niccol said: 'My optimism has turned into confidence that our 'Back to Starbucks' plan is the right strategy to turn the business around and to unlock opportunities ahead. Improving transaction comp in a tough consumer environment at our scale is a testament to the power of our brand and partners getting 'Back to Starbucks.' Starbucks UK has disclosed a pre-tax loss of £35.2m ($44.8m) for the year ending 29 September 2024, marking a downturn from the £16.9m profit recorded in the prior year. "Starbucks reports 2% net revenue increase to $8.8bn in Q2 FY 2025" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Powys County Times
25-04-2025
- Business
- Powys County Times
New Starbucks summer menu items and how to try them early
Starbucks has a new menu with three new drinks inspired by Italian classic flavours and a new Refresha drink from America. With flavours of vanilla and mascarpone combined with its signature coffee, Starbucks summer menu has three Tiramisu-inspired drinks to the menu; the Tiramisu Cream Iced Latte, Tiramisu Cream Iced Oat Shaken Espresso, and the Tiramisu Frappuccino blended beverage. Starbucks Rewards members can get their hands on the range of new items to try one week early, from today, April 24. US fan-favourite, the Melon Pearl Refresha drink is coming to menus across UK. The new Starbucks Refresha drink features juicy, melon-flavour pearls for the first time, which will land on menus from 1 May alongside a host of other new and returning items (although they're clear that it's not suitable for young children, as the pearls can be a choking hazard). There's also a new summer food menu, with new plant-based lunch items including Mexican Style Three Bean Wrap or the returning bakery items, Boston Cream Muffin and Raspberry and Coconut Loaf Cake. How to get an exclusive first taste of Starbucks Summer menu Starbucks Rewards members can enjoy exclusive early access to the Tiramisu Cream Cold Foam range in-store at certain locations from today For stores where it is available, you can use the Starbucks UK app to order ahead to collect in-store. The full summer menu, including the Tiramisu Cream Cold Foam range, will be available for everyone from May 1 2025. The full Starbucks Summer 2025 menu Tiramisu Cream Iced Latte, prices start from £4.95 Vanilla mascarpone flavour sauce is mixed with espresso, milk and ice, layered with mocha drizzle and finished with vanilla mascarpone flavour cream cold foam topped by dusted mocha powder. Tiramisu Cream Iced Oat Shaken Espresso, prices start from £5.05 Starbucks Blonde Espresso shaken together with vanilla mascarpone flavour sauce and ice, layered with mocha drizzle and a splash of oat drink. Finished with vanilla mascarpone flavour cream cold foam and dusted with mocha powder. Tiramisu Frappuccino blended beverage, prices start from £5.05 Vanilla mascarpone flavour sauce blended with coffee, milk and coffee Frappuccino® blended beverage base, layered with mocha drizzle and finished with vanilla mascarpone flavour cream cold foam and dusted with mocha powder. A melon flavour Starbucks Refresha Drink base poured over ice and combined with juicy pops of melon flavour pearls that burst in your mouth – not suitable for young children. Frozen Mango Dragonfruit Starbucks Refresha Drink, prices start from £4.75 Mango and dragon fruit flavour base is blended with ice and dried dragon fruit pieces for a tropical twist (not available via Starbucks Delivers.) Boston Cream Muffin, prices start from £2.90 Vanilla flavour sponge with a custard filling topped with chocolate frosting, chocolate ganache and sprinkled chocolate shavings. Raspberry and Coconut Loaf Cake, prices start from £2.90 A vanilla and coconut loaf cake, topped with a smooth cream cheese frosting, raspberry jam and desiccated coconut. Mexican Style Three Bean Wrap, prices start from £4.20 A mix of 3 beans in a smoky chipotle relish, with a fresh tomato salsa, coriander and spinach in a bar-marked tomato tortilla. Vegan chipolatas served with tomato relish in a ciabatta roll. Chicken Salad Sandwich, prices start from £3.40 Sliced chicken breast with a lemon pepper mayo, lettuce and tomatoes on malted bread Signature Breakfast Sandwich, prices start from £4.85 Beechwood smoked bacon, tomato relish, scrambled egg, mature Cheddar and béchamel sauce in a pretzel roll.
The Herald Scotland
24-04-2025
- Business
- The Herald Scotland
New Starbucks summer menu items and how to try them early
Starbucks Rewards members can get their hands on the range of new items to try one week early, from today, April 24. US fan-favourite, the Melon Pearl Refresha drink is coming to menus across UK. The new Starbucks Refresha drink features juicy, melon-flavour pearls for the first time, which will land on menus from 1 May alongside a host of other new and returning items (although they're clear that it's not suitable for young children, as the pearls can be a choking hazard). There's also a new summer food menu, with new plant-based lunch items including Mexican Style Three Bean Wrap or the returning bakery items, Boston Cream Muffin and Raspberry and Coconut Loaf Cake. How to get an exclusive first taste of Starbucks Summer menu Starbucks Rewards members can enjoy exclusive early access to the Tiramisu Cream Cold Foam range in-store at certain locations from today For stores where it is available, you can use the Starbucks UK app to order ahead to collect in-store. The full summer menu, including the Tiramisu Cream Cold Foam range, will be available for everyone from May 1 2025. The full Starbucks Summer 2025 menu Tiramisu Cream Iced Latte, prices start from £4.95 Vanilla mascarpone flavour sauce is mixed with espresso, milk and ice, layered with mocha drizzle and finished with vanilla mascarpone flavour cream cold foam topped by dusted mocha powder. Tiramisu Cream Iced Oat Shaken Espresso, prices start from £5.05 Starbucks Blonde Espresso shaken together with vanilla mascarpone flavour sauce and ice, layered with mocha drizzle and a splash of oat drink. Finished with vanilla mascarpone flavour cream cold foam and dusted with mocha powder. Tiramisu Frappuccino blended beverage, prices start from £5.05 Vanilla mascarpone flavour sauce blended with coffee, milk and coffee Frappuccino® blended beverage base, layered with mocha drizzle and finished with vanilla mascarpone flavour cream cold foam and dusted with mocha powder. Melon Pearl Starbucks Refresha Drink, prices start from £4.75 (Image: Starbucks) A melon flavour Starbucks Refresha Drink base poured over ice and combined with juicy pops of melon flavour pearls that burst in your mouth – not suitable for young children. Frozen Mango Dragonfruit Starbucks Refresha Drink, prices start from £4.75 Mango and dragon fruit flavour base is blended with ice and dried dragon fruit pieces for a tropical twist (not available via Starbucks Delivers.) Boston Cream Muffin, prices start from £2.90 (Image: Starbucks) Vanilla flavour sponge with a custard filling topped with chocolate frosting, chocolate ganache and sprinkled chocolate shavings. Raspberry and Coconut Loaf Cake, prices start from £2.90 A vanilla and coconut loaf cake, topped with a smooth cream cheese frosting, raspberry jam and desiccated coconut. Mexican Style Three Bean Wrap, prices start from £4.20 (Image: Starbucks) A mix of 3 beans in a smoky chipotle relish, with a fresh tomato salsa, coriander and spinach in a bar-marked tomato tortilla. Meat Free Sausage Sandwich, prices start from £4.95 (Image: Starbucks) Vegan chipolatas served with tomato relish in a ciabatta roll. Recommended reading: Chicken Salad Sandwich, prices start from £3.40 Sliced chicken breast with a lemon pepper mayo, lettuce and tomatoes on malted bread Signature Breakfast Sandwich, prices start from £4.85 Beechwood smoked bacon, tomato relish, scrambled egg, mature Cheddar and béchamel sauce in a pretzel roll. Chicken, Mozzarella and Pesto Focaccia, prices start from £5.40 Chicken breast, mozzarella, tomato sauce, mayonnaise and nut-free pesto with spinach in a rosemary-topped focaccia
Yahoo
10-04-2025
- Business
- Yahoo
Starbucks UK reports £35.2m loss in 2024
Starbucks UK has reported a £35.2m ($44.8m) pre-tax loss for the 12 months ended 29 September 2024, a contrast to the £16.9m profit posted the previous year. The downturn is accompanied by a 9% fall in gross profit and a 4% year-on-year decline in UK revenues to £525.6m. The coffee giant attributed its performance to factors such as high raw material costs, reduced consumer spending and "widely discussed misperceptions" about the company's stance on the Israel-Gaza conflict. Starbucks also noted the impact of a highly competitive branded coffee shop market in the UK, which has seen increased investment in domestic speciality coffee chains. This surge in investment has intensified the competition for Starbucks in the UK. Despite these challenges, Starbucks ended the year with 1,240 stores - an increase of 100 net new sites. It also expanded its company-owned UK estate by acquiring its largest UK franchisee, 23.5 Degrees, adding 113 stores. Starbucks plans to open an additional 80 net new UK stores by the end of September 2025. Starbucks Europe, Middle East and Africa president Duncan Moir stated: 'It has been a difficult period for the sector. We navigated significant macro-economic pressures, including inflationary headwinds, which have also had an impact on consumer confidence. Despite this, we achieved our goal of opening 100 new stores in the UK. 'We remain committed to further expanding our presence and are today announcing that we will open an additional 80 stores in the UK this year. 'We are focused on regaining momentum by strengthening and scaling how we integrate technology across the business, building on the popularity of our Starbucks Rewards programme, and further optimising our menu to ensure we continue delivering on our core offering every time.' In March 2025, Starbucks revealed plans to expand seating options and power outlets to charge devices, seeking to become more customer-friendly and boost sales. The coffee chain is testing new store designs in the US to reverse its sales slump. "Starbucks UK reports £35.2m loss in 2024" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
