Starbucks Coffee Co.

Starbucks Corp. met profit expectations for its second quarter even as its sales disappointed.     The retailer’s net earnings increased 13.5%, to $652.8 million, or 45 cents a share, in line with expectations. Revenue totaled $5.28 billion, less than expected.   Same-store sales rose 3%, also below forecasts, as average tickets rose 4%. Customer transactions were down 2%, which the company attributed to a change in its rewards program.  

Starbucks Coffee Company is going big in the Windy City — in a space that is currently to home to one of the city’s iconic retail flagships.    The coffee retailer will open a four-level, 43,000-sq.-ft. Starbucks Reserve Roastery on Michigan Avenue in Chicago in 2019, in the building currently occupied by Crate & Barrel. The home goods chain, which has operated a store on the site for 27 years, is expected to close its door in early 2018.   

Athletic brands rule when it comes to teen preferences for apparel and footwear.   That’s according to Piper Jaffrey’s 33rd semi-annual Taking Stock With Teens research survey which details teen spending trends and brand preferences. Nike ranked as the top brand with teens, with a 31% share, up from 21% last year. Another athletic brand, Adidas, however, is the fastest growing brand in the survey across footwear & apparel.  

It’s a new day at Starbucks Corp.   Kevin Johnson officially took over as CEO of Starbucks on Monday, April 3. Outgoing CEO Howard Schultz continues on at the company as executive chairman, and will focus on the development of  Starbucks’ new formats, Reserve Roasteries and Starbucks Reserve,  and the company’s social impact initiatives.   

Starbucks Corp. is making some changes to its Seattle headquarters that include a couple of format debuts.   The coffee giant is set to open its first-ever location that only accepts mobile orders and payments on the eight floor of the building, reported the Puget Sound Business Journal.  

While Starbucks’ is ramping up its commitment to digital initiatives, one of its newest programs gives a new meaning to “ordering on the go.”  

Starbucks Corp. is ramping up its job hiring, here and abroad. It’s also doubling down on its commitment to the nation’s veterans.    Hosting its 25th annual shareholders meeting in Seattle, the coffee giant announced plans to create more than 240,000 jobs around the world, including 68,000 jobs in the United States, by 2021.  

Starbucks has debuted its in-store Reserve coffee bar concept in downtown Seattle.      The new store combines the educational aspects of the company’s Reserve Roastery format and its rare small-lot Reserve coffees within a traditional Starbucks setting, complete with such regular coffee and Frappuccinos.    It’s estimated that Starbucks locations with the Reserve bar will make up 20% of the company’s global store portfolio over time.