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Starbucks Korea chief issues second apology over ‘Tank Day’ ad linked to Gwangju uprising
business1 day ago

Starbucks Korea chief issues second apology over ‘Tank Day’ ad linked to Gwangju uprising

South Korea’s Shinsegae Group chairman Chung Yong-jin issued a second public apology for Starbucks Korea’s controversial “Tank Day” marketing campaign, which many perceived as mocking the 1980 Gwangju Uprising. The promotion was canceled, its CEO was fired, and police opened an investigation as public backlash and calls for boycotts grew. Chung urged people not to direct anger at staff, and the company is reviewing actions by marketing employees while authorities assess the case.

via CBS News|
#advertising#apology#business
Starbucks trims 61 Seattle tech jobs amid HQ restructuring
business16 days ago

Starbucks trims 61 Seattle tech jobs amid HQ restructuring

Starbucks is laying off 61 employees at its Seattle Support Center as part of a technology department reorganization, with permanent positions and a WARN notice; layoffs run from June 20 to August 28, and workers are not represented by a union. Despite a Nashville expansion, Seattle remains the company’s North America and global HQ, following earlier closures and broader layoffs in 2025–26.

via KOMO|
#business#layoffs#restructuring
Starbucks rides earnings beat and higher guidance as Niccol's turnaround gains steam
business29 days ago

Starbucks rides earnings beat and higher guidance as Niccol's turnaround gains steam

Starbucks stock jumped after-hours on a Q2 beat and higher 2026 guidance, with adjusted EPS of $0.50 on $9.5B revenue and 6.2% global same-store sales, as CEO Brian Niccol’s turnaround gains momentum; the company also announced tipping options expansion and $1,200 annual bonuses for baristas and managers, lifting 2026 SSS growth to over 5% and EPS to $2.25–$2.45.

via Yahoo Finance|
#business#earnings#guidance
business29 days ago

Starbucks Q2 FY2026: Revenue Climbs, Global comps Rise, and Guidance Is Raised

Starbucks reported Q2 FY2026 results with global comparable store sales up 6.2% (NA +7.1%, US +7.1%, International +2.6%, China +0.5%), and net revenues up 9% to $9.53 billion. GAAP EPS was $0.45 and non-GAAP EPS $0.50. Operating margins expanded, and the company raised its fiscal 2026 guidance to at least 5% comp growth, roughly flat consolidated net revenues, non-GAAP EPS of $2.25–$2.45, and about 600–650 net new stores globally. Highlights include Back to Starbucks progress, a China joint venture with Boyu Capital (Starbucks 40%, Boyu 60%; impact reported in Q3), a refreshed loyalty program launch, and a quarterly dividend of $0.62 per share. Starbucks also noted store count at 41,129 with ongoing investments and strategic actions in 2026.

via Starbucks Investor Relations|
#business#comparable-store-sales#earnings
Starbucks lifts 2026 outlook as traffic rebounds
business29 days ago

Starbucks lifts 2026 outlook as traffic rebounds

Starbucks delivered stronger-than-expected Q2 results: revenue of about $9.53 billion and adjusted EPS of 50 cents, with global same-store sales rising 6.2% (U.S. up 7.1%, international slower) and traffic gains prompting a raised full-year outlook to at least 5% SSS growth and adjusted EPS of $2.25–$2.45 for 2026. China weighed on results despite discounting.

via CNBC|
#business#china#earnings
Starbucks’s loyalty revamp draws value-minded shoppers ahead of earnings
business1 month ago

Starbucks’s loyalty revamp draws value-minded shoppers ahead of earnings

Starbucks’ revamped North American Rewards program—reinstating tiers, adding free Mod Mondays, double points for reusable cups, and extending birthday rewards—appears to attract value-focused customers, with loyalty transactions accounting for about 60% of fiscal 2025 revenue and early data showing the 60-star redemption option as the most popular; the company is set to discuss results on its upcoming Q2 earnings call.

via CNBC|
#business#earnings#loyalty-program
Starbucks workers balk at Seattle-to-Nashville HQ move amid incentives and pay cuts
business1 month ago

Starbucks workers balk at Seattle-to-Nashville HQ move amid incentives and pay cuts

Starbucks is pressuring about 100 members of its North America sourcing team to relocate from Seattle to a new $100 million Nashville hub, offering stock grants, travel reimbursements, and retention bonuses while warning of pay cuts and possible job losses for those who refuse; the move aims to position key operations closer to suppliers and a growing Southeast market, as the company expands its corporate footprint.

via New York Post|
#business#headquarters#nashville
Starbucks expands to Nashville with $100M HQ and up to 2,000 jobs
business1 month ago

Starbucks expands to Nashville with $100M HQ and up to 2,000 jobs

Starbucks announced a $100 million investment to establish a Nashville headquarters and add or relocate about 2,000 support jobs over five years, with most roles staying in Seattle; some Nashville roles come from in-sourcing and moving select Starbucks Technology teams to Nashville, plus a temporary May office in the Gulch and a full Peabody Union building planned for 2027.

via KIRO 7 News Seattle|
#business#expansion#jobs