Starbucks Coffee Co.

Starbucks Corp. unveiled an ambitious five-year strategy that calls for major expansion, includes two new store formats, including freestanding bakeries.      The coffee giant said it plans to plans to open approximately 12,000 new stores globally by 2021, including 5,000 cafes in China. The new round of expansion would bring Starbucks’s total store portfolio to approximately 37,000 locations.   

CNBC nabbed the first interview with Starbucks CEO Howard Schultz and COO Kevin Johnson since Schultz announced he would step down in April, and be succeeded by Johnson.   

Howard Schultz is leaving his post as CEO of the company he built into a global coffee empire, but he’s not retiring.   Schultz will step down as CEO of Starbucks Corp. on April 3, at which time he will be appointed executive chairman and shift his focus to the company’s new upscale initiatives — the design and development of Starbucks Reserve Roasteries around the world and the expansion of the Starbucks Reserve retail store format — along with its social impact programs.     

Starbucks Corp. stirred up a controversy last year when people complained that its all-red holiday cups were too plain. It’s unlikely there will be any complaints this go around.        This year, for the first time ever, Starbucks has 13 different holiday cups, all of them red but each with its own distinct design. And in another twist, the designs were created by customers.  

Consumers gravitate towards convenience for the things that they have to do anyway. They want to get to their intended action with the least amount of unnecessary effort. They’ll even change their behavior to do so. Think of mobile deposits: many consumers have made the switch to using their bank’s mobile app to deposit checks, finding it far more convenient than driving to their local branch or ATM.   

Starbucks Corp. is feeling its oats.   The coffee giant topped estimates for its fourth quarter and gave a positive view for its current fiscal year.   Starbucks’ consolidated net revenue grew 16% to $5.8 billion in its fourth quarter, which was better than expected.   

Singles' Day, a festival that started in China some 20 years ago to celebrate being single, is fast approaching. And the country’s e-commerce giant is pulling out all the stops this year.   

Starbucks Corp. has unveiled a new store environment for its Teavana division.    In the new store design, tea is not hidden in tins. Instead, loose-leaf teas are boldly displayed in large glass cylinders for customers to see and smell as employees help them create custom blends.