Starbucks
Global chain of coffee
shops.
Headquarters:
2401 Utah Avenue South
Seattle, WA 98134
Employees: 172,000
CEO: Howard Schultz
Stock Symbol: SBUX
Website:
http://www.starbucks.com
Career Site
Starbucks has blanketed the world with
its stores selling fresh brewed coffees and espressos that millions
of people can't live without everyday. Stores also sell premium
teas, iced coffees and pastries.
As of March 30, the company had 16,226
locations worldwide with 11,434 in the U.S. Starbucks stores
are a great place for people to relax, meet others and surf the
Internet with wireless connections provided by T-Mobile and AT&T.
In addition to sales through company-operated
retail stores, Starbucks sells whole bean coffees through a specialty
sales group and supermarkets. Additionally, Starbucks produces
and sells bottled Frappuccino coffee drink and a line of premium
ice creams through its joint venture partnerships and offers
a line of innovative premium teas produced by its wholly owned
subsidiary, Tazo Tea Company.
In fiscal 2007, there were 2,571 new store
openings; 70 percent in the U.S. and 30 percent in International
markets.
In January, Starbucks founder Howard Schultz
took over the CEO position that he previously held in 2000. Schultz
said the company will focus on customer experience and also close
100 underperforming stores this year and slow down the number
of new stores in the U.S. to 400 per year from 2009-2011. At
the same time, the company plans to continue to accelerate its
International unit expansion, targeting net new store openings
as follows; approximately 1,050 in 2009, 1,150 in 2010, and 1,300
in 2011. Including a somewhat lower 2008 store target for the
U.S., total store count will be approximately 21,500 stores by
the end of fiscal 2011, with the company's international presence
growing from approximately 30 percent to over 40 percent of the
global store portfolio.
Starbucks said it would stop selling breakfast
sandwiches by the end of the year to focus on coffee. In February,
the company said it planned to cut 600 jobs through layoffs and
not filling open positions.
In April, Starbucks introduced new line
of regular coffee called Pike's Place Roast.
In fiscal 2007, Starbucks generated $9.4
billion in revenues and net income of $673 million.
The company was named one of the 100 Best
Companies to Work For by Fortune magazine.
History
Starbucks opened its first location in
Seattle's Pike Place Market in 1971. Now Chairman Howard Schultz
joined Starbucks in 1982 as Director of Marketing. Schultz visited
Italy and noticed the popularity of espresso bars there. He thought
this would be a great idea in the Seattle area and convinced
Starbucks to open a coffee shop in downtown. Schultz founded
his own coffee company and acquired Starbucks' name and assets
from its founders in 1987. The company had just 17 stores but
would soon grow quickly and went public in 1992.
Starbucks' popularity soared as it opened
coffee shops within Barnes and Noble bookstores. It also provided
coffee for United Airlines and shops in Starwood hotels. The
company's focus on quality and commitment to social causes and
the community have made it one of the world's most admired businesses.
Benefits
Starbucks has consistently ranked among
the Best Companies to Work for according to Fortune Magazine.
Employees receive health insurance for working just 20 hours
per week.
Other benefits employees are offered include:
- Progressive Compensation Package
- Healthcare Benefits (Medical, Prescription Drugs, Dental and
Vision)
- Retirement Savings Plan
- Stock Options and Discounted Stock Purchase Plan
- Income Protection Plan (Life and Disability Coverage)
- Management Bonus Plan
- Adoption Assistance Plan
- Domestic partner benefits
- Referral programs and support resources for child and eldercare
- Discounted Starbucks merchandise
All employees receive a free pound of coffee each week.
Updated May 3, 2008
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