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Starbucks
Headquarters: 2401 Utah Avenue South
Seattle, WA 98134
Employees: 145,000+
CEO: Howard Schultz
Stock Symbol: SBUX
Website: http://www.starbucks.com
Starbucks operates the world's leading coffee chain. At the end of October 2011, the company had 17,003 locations worldwide with 10,787 in the U.S.
Starbucks stores are a great place for people to relax, meet others and surf the Internet with free wireless Internet provided by 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. Starbucks also offers single-serve K-Cups for Keurig coffee machines.
In fiscal 2011, the company reported record revenues of $11.7 billion, up 9% from the previous year, and net income of $945.6 million.
Total net new stores opended in fiscal 2011 were 223 but this number includes 475 licensed Seattle's Best Coffee locations in Borders Bookstores that closed this year.
“Fiscal 2011 was an extraordinary year in which Starbucks reported record earnings every quarter, and for the full year, and very strong comp store sales growth all around the world,” said Howard Schultz, CEO and founder. “Starbucks today is executing in all markets and across all channels, and we have never been better positioned to go hard and go fast after the tremendous opportunity that lies ahead in 2012 and beyond."
The company plans to open 400 net new stores in fiscal 2012 in the Americas, 100 net new stores in Europe, Middle East and Africa and 300 new stores in China and Asia Pacific.
In November, Starbucks said it acquired juice maker Evolution Fresh for a reported $30 million. The company plans to offer fresh juices to its menu.
Starbucks changed its logo in 2011 in honor of its 40th anniversary. The new logo no longer mentions Starbucks or coffee. The new logo is below:
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.
Starbucks stopped selling breakfast sandwiches in 2008 to focus on coffee. In April 2008, Starbucks introduced new line of regular coffee called Pike's Place Roast.
In January 2008, Starbucks founder Howard Schultz returned to take over the CEO position that he previously held in 2000. Overexpansion and the weak economy have hurt sales. The company closed 600 underperforming stores in 2008 and an additional 300 stores in 2009.
Benefits
Starbucks has 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 November 11, 2011