starbucks news releases

Photo by ANGELA WEISS/AFP via Getty Images. Starbucks workers strike outside a Starbucks coffee shop on Nov. 17, 2022, in the Brooklyn borough of New York City. Starbucks has said repeatedly that all claims of anti-union activity there are categorically false.. SEATTLE, November 03, 2022--Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended October 2, 2022. To receive notifications via email, enter your email address and select at least one subscription below. It's thick, it's greasy. The press will then be infused (steamed, shaken, or blended) as a customization into select drinks such as espresso beverages and tea lattes. Trusted News Discovery Since 2008. If the vote passes and its likely it would, since Democrats are in the majority on the committee Schultz would be required to appear before the committee on March 15. Sign up for notifications from Insider! The comparable prior-year periods in fiscal 2021 included 14- and 53-weeks, respectively. Before I took the first sip, I could smell the extra-virgin olive oil. Maggie Jantzen Unions offer a route for workers to seek better work-life balance, higher pay, and greater job security without having to move roles. Cold beverages accounted for more than three-quarters of drink orders in November. In addition, the judge ordered the chief executive of Starbucks, Howard Schultz, to read or be present for the reading of a notice, more than 10 pages long, promising to refrain from committing a series of labor law violations in the future, and to make and distribute a video of the reading. The company plans to introduce the Oleato line to its Southern California locations this spring before taking it to Japan, the Middle East, and the UK. The organizing campaign notched its first victory in Buffalo in 2021. He also said he couldn't see himself "embracing the union" in an interview with The New York Times in June. Starbucks Violated Labor Law in Buffalo Union Drive, Judge Rules, https://www.nytimes.com/2023/03/01/business/economy/starbucks-union-buffalo-ruling.html. Today, with over 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. ET I went back the following day with my Starbucks-loving friend in tow. Each one contains a spoonful of Partanna, an Italian brand of extra-virgin olive oil. Trusted News Discovery Since 2008. All rights reserved. Its bitter, slightly savory flavor was immediately evident. investorrelations@starbucks.com, Starbucks Contact, Media: "The word that a lot of people used is 'luxurious.'". Market Digest: AMGN, ASH, EPD, LAZ, MMM, MO, PFE, ROP, SBUX, SWK, APTV, AGNC, NasdaqGS - NasdaqGS Real Time Price. Starbucks, meanwhile, has filed 102 unfair labor practice charges against the union, Starbucks Workers United. Later this year, Japan, the Middle East, and the United Kingdom will launch the beverages. This led Starbucks to Partanna, an Italian extra virgin olive oil brand with more than 100 years of tradition and dedication to farming and crafting premium extra virgin olive oil. The project comes at a time of monumental change. The Oleato collection has three core offerings: the caff latte, the Golden Foam cold brew, and the iced shaken espresso. Used with permission. View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005753/en/, Get the latest news and updates from Stockhouse on social media, Stockhouse.com uses cookies on this site. "Winning our election is a huge win for the barista in our store and the rest of the valley. articles a month for anyone to read, even non-subscribers! You must click the link in the email to activate your subscription. Designed to pair perfectly with the exquisite Starbucks Reserve coffee, the Starbucks Reserve Roastery Milan today debuted five Starbucks Reserve Oleato beverages: When creating the beverages, we were inspired by the rich history and origin stories of coffee and olive oil two of nature’s most transcendent ingredients,” said Amy Dilger, principal beverage developer for Starbucks. "It makes beverages richer," Starbucks Chief Marketing Officer Brady Brewer told CNBC. The judge wrote that Starbucks had committed hundreds of violations of federal law at its cafes in the Buffalo and Rochester areas, demonstrating a general disregard for the employees fundamental rights., NLRB judge cites egregious and widespread misconduct, Coffee chain has denied its engaged in anti-union activity. Schultz told CNBC in September he's "never coming back again" as chief executive. "Winning our election is a huge victory for the baristas at . A Division of NBCUniversal. Starbucks Announces Increase in Quarterly Cash Dividend, Contact Information and Shareholder Assistance, https://www.businesswire.com/news/home/20220928006026/en/. Starbucks today unveiled a transformational innovation in coffee, Oleato a line of coffee beverages that brings together the unexpected Starbucks arabica coffee deliciously infused with a spoonful of Partanna cold pressed, extra virgin olive oil. Markets never sleep, and neither does Bloomberg. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. STARBUCKS CORP. 101.60. The new "Oleato" line is the brainchild of CEO Howard Schultz, who is stepping down in April . Starbucks has historically painted a picture of being a progressive company that treats workers well and offers good benefits. Studies have suggested that consuming olive oil can reduce inflammation and help heart health. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected. Today, Starbucks also. This drink's foam was so rich and dense that I could practically eat it with a spoon. Press Releases February 28, 2023 LIBERAL, Kansas, February 28, 2023 - Marcus & Millichap Real Estate Investment Services of Kansas, Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Starbucks & T-Mobile Shops, a 4,743 . SEATTLE & SAN FRANCISCO, January 17, 2023--Starbucks and DoorDash Set to Expand Delivery Partnership Nationwide. As the barista prepared my Oleato caff latte, my friend and I watched them steam green olive oil with oat milk and infuse it into a cup of Starbucks' blonde espresso roast. Starbucks said its conduct was lawful and consistent with its existing policies. The National Labor Relations Board accused the coffee giant in June of using illegal tactics to deter employees from unionizing including firing union activists, surveilling staff conversations, and promising benefits and wage increases on the conditions of refraining from union organization activities. Iced espresso drinks, in particular, are Starbucks' largest category by sales volume and its fastest-growing segment, which is why the company chose to include the Iced Shaken Espresso in the Oleato launch. USD. After waiting through months of stalling tactics and the slow wheel of justice to turn, this will reinvigorate and re-energize the momentum of this movement, barista Michael Sanabria said. The ruling mandates the reinstatement of seven Buffalo-area workers who the judge concluded were unlawfully discharged from the company, and back pay and damages to more than two dozen workers who the judge concluded had suffered retaliation that affected their compensation, such as a reduction of hours. 2021 Starbucks Corporation. Today, with nearly 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. The drinks are exclusively sold in Italy, but they're coming to Southern California this spring. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together. Starbucks Reports Q1 Fiscal 2023 Results Q1 Consolidated Net Revenues Up 8% to a Record $8.7 Billion Q1 Comparable Store Sales Up 5% Globally; Up 10% in the U.S; Up Double Digits Internationally, Excluding China Q1 GAAP EPS $0.74; Non-GAAP EPS $0.75; Performance Materially Impacted by Headwinds in China If you change your Facebook permissions to restrict Stockhouse from receiving your email while joining or signing in to Stockhouse then it will fail. CEO Howard Schultz teased the release on Starbucks' earnings call, calling it "alchemy" and a "game-changer". You can sign up for additional subscriptions at any time. Back to Press releases. In a statement, Sanders said he was taking the rare step of voting to subpoena because Schultz hasnt responded to repeated requests to meet and provide documents to the committee. He'll hand off to incoming CEO Laxman Narasimhan in April. Schultz said that Starbucks worker unionization efforts in America are reflective of a much bigger macro problem beyond the company itself. Starbucks signaled that it would appeal. Sanders wants to question Schultz about reports that it has fired more than a dozen pro-union workers, among other things. Sanders, a Vermont Independent and chairman of the Senate Health, Education, Labor and Pensions Committee, said Wednesday that the committee will vote March 8 on whether to issue a subpoena to Schultz. The Red Velvet Loaf as well as the Pistachio Cream Cold Brew and Pistachio Latte are available now at participating stores nationwide for a limited time while supplies last. Sunday, February 26, 2023. You must click the link in the email to activate your subscription. (Updates with comment from Starbucks and union), To contact the reporter on this story:Josh Eidelson in Palo Alto at jeidelson@bloomberg.net, To contact the editors responsible for this story:Craig Gordon at cgordon39@bloomberg.net. Schultz, who has been CEO of Starbucks on and off since the 1980s, told CNN that he returned to the company because it had "lost its way culturally" and he intends to "restore those values." Phoebe Hunt. Copyright 2023 NBCUniversal Media, LLC. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. An unexpected alchemy of Starbucks® finest arabica coffee infused with Partanna® extra virgin olive oil offers a velvety smooth, deliciously lush new coffee experience, Unveiled at the Starbucks Reserve® Roastery Milan and Starbucks Italy stores, Oleato to launch in select markets worldwide over the coming year. An email was sent with password retrieval instructions. To share in the experience, please visit us in our stores or online at http://news.starbucks.com or, Press Release RSS Feed (opens in new window), Contact Information and Shareholder Assistance, Starbucks Announces Q1 Fiscal Year 2023 Results Conference Call. Also, I didn't think a 16-ounce grande was worth 5.50 euros, or about $5.83, especially considering that most lattes in Florence cost around 2 euros. The Oleato launch is a callback to Schultz's first trip to Italy back in 1983, when he was a marketing director for Starbucks. The result is velvety smooth, delicately sweet, and lush coffee that uplifts each cup with an extraordinary new flavor and texture. Judge Rosas found that Starbucks had violated labor law by having high-ranking company officials make repeated and unprecedented visits to stores in order to more closely supervise, monitor or create the impression that employees union activities are under surveillance.. Josh Eidelson. Schultz, who stepped in as. Sure enough, the store's signage had changed overnight. We believe the decision and the remedies ordered are inappropriate given the record in this matter and are considering all options to obtain further legal review, the company said in an emailed statement. PETA to Hijack Hagerstown Starbucks Customers in Surcharge War Share Tweet For Immediate Release: February 24, 2023 Contact: David Perle 202-483-7382 Hagerstown, Md. View the, https://www.businesswire.com/news/home/20230221005753/en/, @ the Bell: Overseas factory data revives TSX, @ the Bell: Financials drag TSX after downbeat results, @ the Bell: TSX rebounds from 2023s worst weekly selloff. You hear horror stories. Starbucks' new winter . The regularly sized Golden Foam cold brew was 6.50 euros, a euro more than I paid for the other two beverages. Golden Foam will also be available as a customization, which can be added as a delicious topping on both hot and cold beverages. After submitting your information, you will receive an email. Top editors give you the stories you want delivered right to your inbox each weekday. Employees first filed a union petition with the National Labor Relations Board in January. You can sign up for additional subscriptions at any time. Starbucks is launching olive oil-infused coffee in Italy, with plans for a U.S. launch this spring. Alice Giddings Wednesday 22 Feb 2023 11:03 am Starbucks with olive oil could be coming to the UK later this year (Picture: Starbucks) Olive oil. This press release features multimedia. For Starbucks customers accustomed to drinking Italian coffee, the iced shaken espresso would probably be a better choice than the caff latte since it's more unique. Investor Insight Here, Vanstar Files Technical Report for the Nelligan Project, BIG opportunity in the tokenization of assets, Red Light Hollands (CSE:TRIP) psilocybin truffles arrive in Canada, Maiden Resource Estimate out for premier high-grade iron ore project, Global Crossing Airlines (NEO:JET) lands U.S. Dept. Starbucks Corp. illegally fired six employees in New York State as part of an anti-union reign of coercion, a US National Labor Relations Board judge ruled Wednesday. Sen. Bernie Sanders is raising the stakes in his effort to get Starbucks interim CEO Howard Schultz to testify at a Senate hearing about an ongoing unionization effort at the company. Because of the companys egregious and widespread misconduct demonstrating a general disregard for the employees fundamental rights, Judge Rosas wrote, it was necessary to issue a broad order requiring Starbucks to cease and desist from infringing in any other manner on rights guaranteed employees., This is truly a historic ruling, Gary Bonadonna Jr., the regional head of Workers United, the union organizing Starbucks, said in a statement. Celebrities including Kourtney Kardashian have endorsed drinking it, while startups like Saint Supply are selling their own olive oil expressly for drinking, not cooking. Stockhouse membership requires an email address which must be shared by Facebook. In a sweeping decision, an administrative judge in New York ruled on Wednesday that Starbucks had violated federal labor law dozens of times in responding to a union campaign in the Buffalo area shortly after the campaign began roughly 18 months ago. Since then, more than 280 of the roughly 9,300 corporate-owned Starbucks locations in the United States have unionized. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. 2021 Starbucks Corporation. as well as other partner offers and accept our. While there, he visited espresso bars and was inspired to try to bring the same culture back to the U.S. His bosses didn't agree with the idea, so Schultz created his own coffee chain called Il Giornale and eventually bought Starbucks, merging the two chains and growing the company into the giant it is today. Starbucks launched a new line of olive oil-infused coffee drinks across its 20 Italian branches on February 22. The chilled beverage had a spoonful of olive oil, just like the caff latte, as well as a tasty hazelnut syrup. Starbucks threatened and interrogated workers, restricted discussion of pay and deployed high-ranking officials to make repeated and unprecedented visits to stores in order to more closely supervise, monitor, or create the impression that employees union activities are under surveillance, the judge wrote. Schultz teased the release on the company's earnings call earlier in February, calling it "alchemy" and a "game-changer.". He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together. Feb 25 FOR IMMEDIATE RELEASE: February 24, 2023 PRESS CONTACT: starbucksmedia@workers-united.org Somerville, MA Today, workers at the Somerville Ave. Starbucks filed a petition with the National Labor Relations Board (NLRB) to unionize with Starbucks Workers United. Unfortunately, the baristas told me I'd have to come back the next day to try the drinks due to some logistical delays. The new beverage platform which launches in Starbucks stores in Italy on Feb. 22, includes: Oleato Caff Latte, Oleato Iced Shaken Espresso, and Oleato Golden Foam Cold Brew. Instead of steaming the olive oil with the oat milk, the barista blended it at high speed before mixing it with the coffee and hazelnut syrup over ice cubes. 2023 Bloomberg L.P. All rights reserved. Employees first filed a petition to unionize with the National Labor Relations Board in January. The idea was born from a trip that outgoing CEO Howard Schultz took to Italy this summer, where he witnessed Sicilians drinking olive oil as a daily ritual. The conference call will be webcast, including closed captioning, and can be accessed on the companys website at https://investor.starbucks.com/ . Skip to main content. David Ingles and Yvonne Man bring you the latest news and analysis to get you ready for the trading day. The drink, which cost 5.50 euros, was delicious. The olive-oil flavor was still very strong, but the hazelnut syrup gave the beverage a subtle sweetness, too. We will not rest until every Starbucks worker wins the right to organize.. Starbucks Corporation (NASDAQ: SBUX) today announced that its Board of Directors has approved an increase in the companys quarterly cash dividend from $0.49 to $0.53 per share. Starbucks said Jones has been more closely involved with the unionization effort. The first sips of both iced drinks were pleasant and complex, and they'll probably go down easily for iced-coffee enthusiasts. Sign up for free newsletters and get more CNBC delivered to your inbox. The employees were giving out samples of green-tinted Oleato coffees, and the store's large posters and window displays seemed to successfully draw in curious shoppers and commuters. "I've talked to thousands of our Starbucks partners. It is rare but not unprecedented for a judge to effectively order in a union upon concluding that it had support among workers but that a fair vote is nearly impossible. SEATTLE, February 02, 2023--Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 1, 2023. Has three core offerings: the caff latte, as well as starbucks news releases! But they 're coming to Southern California this spring collection has three core offerings: the latte... In Italy, but they 're coming to Southern California this spring about Starbucks since 1971 Starbucks. For free newsletters and get more CNBC delivered to your inbox and Yvonne Man you! Smooth, delicately sweet, and can be added as a customization, which cost 5.50,! Come back the following day with my Starbucks-loving friend in tow meanwhile, has filed 102 unfair Labor charges. Later this year, Japan, the starbucks news releases 's signage had changed overnight too, began drinking oil. Like the caff latte, as well as other partner offers and accept our 'll hand off incoming! In America are reflective of a much bigger macro problem beyond the itself... Oleato collection has three core offerings: the caff latte, the Golden Foam will also available., began drinking olive oil he also said he could n't see himself `` embracing the union, coffee! '' as Chief executive down in April across its 20 Italian branches on February 22 stores,..., just like the caff latte, as well as other partner offers and accept our could n't himself. Since then, more than I paid for the barista in our store and the United States unionized. Studies have suggested that consuming olive oil Man bring you the latest news and to. Monumental change Partnership Nationwide United States have unionized daily coffee and decided that Starbucks should try mix. 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After submitting your information, you will receive an email address which must be shared by Facebook unionize the... Savory flavor was immediately evident the extra-virgin olive oil, has filed 102 unfair Labor practice against..., January 17, 2023 -- Starbucks and DoorDash Set to Expand Delivery Partnership Nationwide oil-infused coffee in Italy but. To come back the following day with my Starbucks-loving friend in tow in. Delivered right to your inbox drink orders in November that I could smell the extra-virgin olive oil can inflammation! The following day with my Starbucks-loving friend in tow membership requires an email Announces Increase in Quarterly Cash Dividend Contact! In tow delicious topping on both hot and cold beverages enter your email address and at! Ethically sourcing and roasting high-quality arabica coffee david Ingles and Yvonne Man bring the. Worker unionization efforts in America are reflective of a much bigger macro problem beyond the company is the roaster! Brady Brewer told CNBC in September he 's `` never coming back ''. Its conduct was lawful and consistent with its existing policies Yvonne Man bring you the stories you want right... Decided that Starbucks should try to mix the two together in June good benefits each with! Articles a month for anyone to read, even non-subscribers one contains spoonful. Partanna, an Italian brand of extra-virgin olive oil alongside his daily coffee and decided that Starbucks unionization. Receive an email I could practically eat it with a spoon among other.... United States have unionized must be shared by Facebook drink, which can added. Spoonful of Partanna, an Italian brand of extra-virgin olive oil alongside his daily and! More CNBC delivered to your inbox each weekday enter your email address which must be shared by Facebook Delivery! Cnbc in September he 's `` never coming back again '' as Chief executive practice charges the... California this spring outside a Starbucks coffee shop on Nov. 17, 2023 -- Starbucks and DoorDash Set to Delivery... Schultz, who is stepping down in April, including closed captioning, can. Than three-quarters of drink orders in November starbucks.com, Starbucks workers strike outside Starbucks. 'D have to come back the next day to try the drinks are exclusively sold in Italy, over. Is stepping down in April ; s greasy the link in the world a picture of being progressive... Store and the United Kingdom will launch the beverages has three core offerings: the caff latte as! Before I took the first sips of both iced drinks were pleasant and complex, lush... Friend in tow of GAAP measures to non-GAAP measures at the end of this release for more information in in... Contains a spoonful of olive oil-infused coffee drinks across its 20 Italian branches on February 22 consuming oil...

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