Tag: $Starbucks

A strike at Starbucks will expand to over 300 U.S. stores on Tuesday, with more than 5,000 workers expected to walk off the job before the five-day work stoppage ends later on Christmas Eve, the workers’ union said.

The workers’ union representing over 10,000 baristas at Starbucks said its members will strike at stores in Los Angeles, Chicago, and Seattle for five days starting Friday, citing unresolved issues over wages, staffing and schedules.

Starbucks on Tuesday posted preliminary quarterly results that showed its sales fell again as the coffee chain tries to execute a turnaround.

Starbucks has been on the decline, with shrinking sales as it moved from a traditional sit-down coffee shop into one where people place orders on their phones and grab a drink from the counter. Its new CEO has a plan to fix it all. And it starts with comfortable chairs.

Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol.

Activist investor Starboard Value has a stake in Starbucks the Wall Street Journal reported on Friday, adding that it wants the coffee giant to take steps to improve its stock price.

Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. And that masked how steep the decline was for Starbucks last quarter: Total transactions at North American stores open at least a year fell 6% in the quarter. That was offset, in part, by higher prices.

Starbucks on Tuesday reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales.

When it rains, it pours. And it rained pretty heavily on Starbucks in the last leg of the year, prompting the company to miss first-quarter earnings expectations and lower its revenue guidance for the rest of the fiscal year.

Starbucks Corp.’s stock soared 7% in premarket trade Thursday, after the coffee store chain posted better-than-expected earnings for its fiscal fourth quarter.

Starbucks raised its quarterly dividend to 57 cents from 53 cents, an increase of about 7.5%.

Howard Schultz is stepping down from Starbucks ‘ board of directors, the company said Wednesday.

Shares of Starbucks Corp. fell after hours Tuesday after the coffee chain reported third-quarter same-store sales that missed expectations, despite a big rebound in China.

Workers at dozens of U.S. Starbucks locations held strikes on Sunday to express their outrage over accusations by the baristas’ union that managers at several U.S. cafes removed rainbow flags and decorations supporting LGBTQ+ Pride month.

Some organized Starbucks stores will strike across the U.S. starting Friday in Seattle after the coffee giant and the union representing baristas publicly clashed over claims that the company was not allowing Pride month decor in cafes.