Three-time Starbucks CEO Howard Schultz recalled the moment that Steve Jobs told him to fire his entire executive team. Within six to nine months, most of them were gone, he said.
Starbucks Corporation (NASDAQ:SBUX ) Deutsche Bank dbAccess 2024 Global Consumer Conference June 5, 2024 2:30 AM ET Company Participants Rachel Ruggeri - EVP and CFO Conference Call Participants Lauren Silberman - Deutsche Bank Lauren Silberman All right. I guess we will get started.
[Note: Starbucks' fiscal year 2023 ended October 1]
After posting disappointing quarterly results, Starbucks (SBUX) is trying to boost sales by striking a deal to have its frappuccinos and lattes delivered to U.S. customers' doors by food delivery giant Grubhub.
Consumers across the United States will soon be able to have Starbucks orders delivered to their door by Grubhub. The coffee retailer and the food ordering and delivery marketplace announced their new delivery partnership in a Thursday (June 6) press release.
The coffee chain continues to become a more convenience-focused brand.
Starbucks is looking to Grubhub to help get its groove back by expanding delivery options for customers after sales declined in the coffee chain's recent quarter.
Starbucks will partner with Grubhub to deliver coffees and other customized beverages in select U.S. markets starting this month, in its latest attempt to widen its reach as inflation-hit customers are increasingly opting to eat at home.
Brazilian restaurant chain operator Zamp has agreed to buy the rights to operate the Starbucks brand in the South American country, as well as some stores, for 120 million reais ($22.7 million), it said on Thursday.
Dutch Bros' executives believe the store base can expand nearly fivefold over time. Despite temporary issues, Starbucks dominates the market and still has growth potential.
Starbucks is coming off a disappointing quarter that caused a sell-off in the stock. The company pays a significant dividend that is well supported.
While the company has been adamant about its neutrality and support for peace rather than either side in the ongoing Israeli onslaught against Gaza and the West Bank, Starbucks (NASDAQ: SBUX) has been hard-pressed by the related boycott.