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☆ 150 Starbucks stores to strike over Pride decorations
▼ + stars: | 2023-06-23 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Workers at about 150 unionized Starbucks stores in the United States are going on strike Friday over the coffee chain’s policy for Pride decorations in stores. Starbucks (SBUX) Workers United, the union representing organized stores, has claimed that Starbucks (SBUX) has restricted decorations celebrating Pride month in some locations, demonstrating a “hypocritical treatment of LGBTQIA+ workers.” Starbucks (SBUX) has forcefully denied this claim. Starbucks said it is not aware of any company-owned stores that have banned Pride decorations. Starbucks Workers United says this is an example of Starbucks bowing to pressure, as Target did when moving or removing Pride merchandise from some stores. But, even if some individual managers have removed their Pride decorations, Starbucks corporate has not changed any merchandising or other policies.

Persons: ”, “ We’re Organizations: New, New York CNN — Workers, Workers, Starbucks, Starbucks Workers, US, Twitter, Pride Locations: New York, United States, Oklahoma , Arkansas, Missouri

☆ Wall Street Week Ahead: Investors rethink recession plays, boosting U.S. stock market laggards
▼ + stars: | 2023-06-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

"There's reason to believe that the pessimism we saw at the start of the year is giving way to a stronger-than-expected market." Murray has increased his allocation to small-cap stocks, which tend to be among the most direct beneficiaries of economic growth. Other rebounding segments in June include the S&P 500 energy sector, which has gained 6% this month and S&P 500 industrials, up 5.7%. Ten of the 11 S&P 500 sectors are firmer for the month to date, compared to only six for the year. Stronger-than-expected jobs growth and robust consumer spending have been among the data points that have bolstered investors' economic outlook.

Persons: Tim Murray, T Rowe Price's, Murray, Russell, Dow, Howard Silverblatt, Goldman Sachs, Saira Malik, Max Wasserman, David Randall, Saqib Iqbal Ahmed, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: YORK, Energy, Reuters, Apple Inc, Microsoft Corp, Inc, Amazon.com Inc, Nvidia Corp, Tesla Inc, Dow Jones, Capital Economics, Miramar Capital, Starbucks Corp, Target Corp, Thomson Locations: U.S

☆ Most remote workers say they'd take a pay cut to continue being allowed to work from home, a new poll shows
▼ + stars: | 2023-05-23 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

55 percent of fully remote US workers say they're willing to take a pay cut to keep working from home, a WaPo and Ipsos poll finds. Still, the majority of workers polled say they would return to the office if they got a salary bump. Many remote workers want to stay at home — and they're willing to make less money doing just that. Elon Musk, the CEO of Tesla, said that remote work is "morally wrong" and that remote workers need to "get off the goddamn moral high horse." "The laptop classes are living in la-la land," Musk told CNBC during an interview in regards to remote workers.

Judges and the National Labor Relations Board have found the company violated federal labor law in several other cases. The Memphis store is one of nearly 300 Starbucks cafes in the United States to unionize since late 2021. More than 540 complaints have been filed with the labor board accusing Starbucks of illegal labor practices such as firing union supporters, spying on workers and closing stores during labor campaigns. Starbucks has argued that the Memphis workers were fired for violating company safety policies and has said it respects the unionization process. Starbucks and Starbucks Workers United, the union waging the nationwide campaign, did not respond to requests for comment on Wednesday.

May 2 (Reuters) - Starbucks Corp (SBUX.O) beat Wall Street estimates on Tuesday for quarterly profits and comparable sales, powered by a sharp recovery in business in China and steady demand for its coffees and cold drinks in North America. Even so, some analysts expected China sales to remain in the red after tumbling 29% the previous quarter. Instead, the world's largest coffeehouse chain posted a 3% rise in China comparable sales in its second quarter ended April 2, boosting the company's international sales 7%, more than double the 2.94% increase of the average analyst's estimate, according to Refinitiv data. Globally, the Seattle-based chain's comparable sales climbed 11%, trouncing analysts' expectation of a 7.36% rise. Excluding one-time items, Starbucks earned 74 cents per share, beating estimates of 65 cents.

☆ Starbucks, Ford, Apple Lead Another Busy Earnings Week
▼ + stars: | 2023-04-30 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Starbucks is set for its first quarterly report under its new president. Photo: Mark Hertzberg/Zuma PressApple Inc., Marriott International Inc. and Starbucks Corp. are among the companies that will report quarterly results in coming days, offering a closer look at consumer spending habits in a slowing economy. Ride-hailing company Uber Technologies Inc., auto maker Ford Motor Co. and pharmacy chain CVS Health Corp. are also scheduled to report, as consumers face steady price increases and inflation shows few signs of retreating.

☆ Starbucks’s Howard Schultz Testifies About Negotiations With Unions
▼ + stars: | 2023-03-29 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Longtime Starbucks Corp. leader Howard Schultz on Wednesday defended the coffee chain against accusations it has retaliated against pro-union workers who say they are seeking better pay and benefits. Mr. Schultz, testifying before a Senate committee, said the company has attempted to bargain with representatives of the Starbucks Workers United union in good faith. Any unionized employee disciplined by Starbucks was a result of violating company policies, not advocating for a union, he said in prepared remarks.

☆ Starbucks’s Howard Schultz Faces Tough Questions from Bernie Sanders About Union Talks
▼ + stars: | 2023-03-29 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

☆ Starbucks’ Union Fight Moves to Congress
▼ + stars: | 2023-03-28 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Starbucks Corp. and chain baristas are more than 18 months into a fight over unionizing cafes at the world’s largest coffee company. Neither side has gotten all that they wanted. Starbucks has managed to slow down new union petitions over the last year and a half. But the push has cost it operationally and financially, some company executives and labor attorneys say. Starbucks said it has spent millions of dollars on lawyers to oversee union elections, fight litigation and represent itself before the National Labor Relations Board, the federal body that oversees labor matters between U.S. companies and workers.

☆ Starbucks, union at odds over hybrid negotiations
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

March 28 (Reuters) - Starbucks Corp (SBUX.O), which has faced criticism over its opposition to union organizing, said the labor union representing some of its stores has rejected in-person bargaining sessions and is insisting on hybrid negotiations. Starbucks Workers United, which represents thousands of U.S. baristas at about 200 cafes, conducted unauthorized virtual broadcasts of bargaining sessions without prior agreement from all parties, Starbucks said in a statement to Reuters on Monday. "Workers United is asking for a seat at the table, we're simply encouraging them take their seat in-person at the negotiating table, as required, to move the bargaining process forward," the company said. This comes after National Labor Relations Board (NLRB) prosecutors alleged that Starbucks violated labor law by refusing to engage in bargaining if some workers were attending remotely via videoconference, according to a Bloomberg report. "Now that it's clear we have the right to bargain using a virtual component, we hope Starbucks is ready, too," Tyler Keeling, a leader of the Starbucks Workers United in California said.

☆ Starbucks illegally refused to bargain with union on Zoom - Bloomberg News
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +1 min

The general counsel of the NLRB determined that the coffee chain violated labor law by refusing to participate in collective bargaining sessions if some workers were present via video-conference, the report said. "Now that it's clear we have the right to bargain using a virtual component, we hope Starbucks is ready, too," Tyler Keeling, a Starbucks' union leader from California said in a statement. Starbucks and the NLRB did not immediately respond to Reuters request for comment. Employees at more than 280 out of Starbucks' roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021. The union is seeking better pay and benefits, improved health and safety conditions and protections against unfair dismissal and discipline.

☆ Starbucks’s New CEO Trained as Barista to Prepare for Role
▼ + stars: | 2023-03-23 | by ( Heather Haddon | Photography Lucy Hewett For The Wall Street Journal | ) www.wsj.com time to read: 1 min

CHICAGO—New Starbucks Corp. Chief Executive Laxman Narasimhan plans to be in regular contact with departing CEO Howard Schultz —but it will be clear who is in charge, both men said. “There’s places where he can be really helpful. The world, though, needs boxes and lines,” Mr. Narasimhan said in an interview. “There’s one CEO, and that’s me.”

☆ Starbucks’s New CEO Brews Coffee at Stores to Prepare for Role
▼ + stars: | 2023-03-23 | by ( Heather Haddon | Photography Lucy Hewett For The Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ House Republicans subpoena labor authorities in Starbucks union dispute
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

March 22 (Reuters) - The House Education and Labor Committee on Wednesday issued a subpoena to the National Labor Relations Board (NLRB), alleging officials of the labor body failed to conduct fair and impartial union elections at Starbucks Corp (SBUX.O). She has requested a regional NLRB official to provide documents to see if the federal labor board mishandled Starbucks Union elections. The NLRB was investigating a substantial number of additional allegations against Starbucks and working with the Congress, the spokesperson added. Starbucks did not immediately respond to Reuters' requests for comment, while Starbucks Workers United declined to comment. Employees at more than 280 of Starbucks' roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021 seeking better pay and benefits, improved health and safety conditions and protection against unfair dismissal.

☆ House Republicans subpoena labor authorities in Starbucks union dispute - WSJ
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

The report added the House Committee on Education and the Workforce asked a regional NLRB official to provide documents as to whether the labor body improperly influenced at least one Starbucks election. The top Republican on the House Education and Labor Committee, Virginia Foxx, wrote that she believes the NLRB has communications and documents outlining alleged misconduct in Starbucks elections, the report said. Foxx is seeking documents on the matter and has requested that the NLRB official provide the documents to the committee on March 29, the Journal reported, citing the subpoena. Starbucks, NLRB, the Starbucks Workers United and GOP did not immediately respond to Reuters' requests for comment. Starbucks workers have also filed more than 500 charges against the company with the NLRB, which has ordered the company to reinstate 22 fired employees including some union supporters.

☆ Starbucks’s New CEO, Laxman Narasimhan, Takes Coffee Chain’s Helm
▼ + stars: | 2023-03-20 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Starbucks’s leadership handoff comes ahead of the coffee chain’s annual shareholder meeting this week. Starbucks Corp. said it handed the reins of the world’s largest coffee chain to its incoming chief executive officer, Laxman Narasimhan . The Seattle-based company said that interim CEO and longtime leader Howard Schultz exited the role Monday, with his successor officially taking over and joining the company’s board. Starbucks previously had said that Mr. Narasimhan would begin in his role on April 1.

Schultz will testify on March 29 before the Senate Health, Education, Labor and Pensions Committee, the company and panel chairman Senator Bernie Sanders said on Tuesday. Schultz, who is stepping down from his post this month, had earlier declined an invitation from 11 senators to testify before the panel on March 9. The company previously rebuffed requests by Sanders for him to appear, instead offering for other executives to testify. "I look forward to hearing from him as to when he intends to end his illegal anti-union activities and begin signing fair first contracts with the unions," Sanders wrote on Twitter. Employees at more than 280 out of its roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021.

☆ Starbucks CEO agrees to testify before US Senate panel
▼ + stars: | 2023-03-07 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

WASHINGTON, March 7 (Reuters) - Starbucks Corp (SBUX.O) interim Chief Executive Officer Howard Schultz has agreed to testify this month before a U.S. Senate committee, the company and panel chairman Senator Bernie Sanders said on Tuesday. Schultz will testify on March 29 before the Senate Health, Education, Labor and Pensions Committee after he had earlier declined an invitation from 11 senators to testify before the panel on March 9. Employees at more than 280 out of its roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021. Sanders had called on Schultz to testify at a hearing on the company's compliance with labor law. Starbucks had previously noted Schultz was stepping down as CEO this month and said he was not the right witness.

☆ Starbucks’s Howard Schultz to Testify About Union Activity Before Senate Committee
▼ + stars: | 2023-03-07 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Starbucks Corp. interim Chief Executive Howard Schultz has agreed to testify before a Senate committee, Vermont Sen. Bernie Sanders said Tuesday, the latest development in the 18-month conflict between the company and U.S. baristas seeking to unionize. Mr. Sanders, an Independent who is chairman of the Committee on Health, Education, Labor and Pensions, has accused the company of flouting federal labor laws, allegations that the company denies. Mr. Sanders has alleged that Starbucks, under Mr. Schultz’s leadership, has “done everything possible to prevent” unionization and collective-bargaining efforts.

☆ Starbucks corporate employees sign petition to reverse return to office mandate and stop alleged union busting
▼ + stars: | 2023-03-01 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Dozens of Starbucks employees signed a letter Wednesday pushing back against return to office policies. The corporate staffers are calling to overturn a mandate to come in at least three days per week. Months after Starbucks CEO Howard Schultz said he was pleading with employees to return to the office, the executive ultimately announced a policy in January requiring employees "within commuting distance" to return to the office at least three days per week. The return to office policy and alleged union busting is "fracturing trust in Starbucks leadership," the letter states. The letter makes official requests for the company to reverse the return to office policy and "commit to a policy of neutrality and respect federal labor laws."

☆ From McDonald’s to Ralph Lauren, U.S. Companies Are Planning China Expansions
▼ + stars: | 2023-02-26 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

McDonald’s plans to open 3,000 new stores in China by 2025. HONG KONG—Large American companies from fast food to high-end fashion are increasing their bets on China’s consumers in anticipation of a postpandemic rebound for the world’s second-biggest economy. McDonald ’s Corp. and Starbucks Corp. are opening hundreds of new restaurants.

☆ Starbucks Bets Coffee Infused With Olive Oil Could Be the Next Frappuccino
▼ + stars: | 2023-02-22 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

A customer exits a Starbucks coffee shop in the Manhattan borough of New York, in April. SEATTLE— Starbucks Corp., the company that made Frappuccino a household name, is turning to a new drink—one infused with olive oil. The world’s largest coffee chain plans to launch a line of olive-oil-infused drinks, set to debut in the company’s coffee shops in Italy this week and the U.S. in the spring. The Oleato beverages will include an oat-milk latte imbued with extra-virgin olive oil, and a cold brew drink topped with “golden foam” infused with the oil, executives said. Starbucks is also adding the oil to its Iced Shaken Espresso beverage, pairing it with oat milk and hazelnut.

☆ Starbucks CEO declines to appear at U.S. Senate hearing
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Feb 14 (Reuters) - Starbucks Corp (SBUX.O) Chief Executive Howard Schultz declined an invitation from 11 senators to testify on March 9 on the coffee company's compliance with federal labor law, according to a letter seen by Reuters late Tuesday. Last week, U.S. Senator Bernie Sanders, who chairs a committee on labor issues, and 10 other members of the committee asked Schultz to answer by Feb. 14 whether he would take part. Schultz, who re-joined Starbucks as interim CEO in April 2022, will "fully transition" out of the role next month, said Starbucks acting executive vice president and general counsel Zabrina Jenkins in the letter. Reporting by David Shepardson Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Starbucks Reports Record Quarterly Revenue While Costs Rise
▼ + stars: | 2023-02-02 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Starbucks Corp. said Thursday it generated record revenue during its last quarter, though higher costs ate into its profit. For the three months ended Jan. 1, Starbucks reported earnings per share of 75 cents, adjusted for one-time items, below the 77 cents a share expected by analysts polled by FactSet. The chain reported net income of $855 million, about 5% higher than the $816 million generated in the same quarter a year earlier.

[1/3] Starbucks cups are pictured on a counter in the Manhattan borough of New York City, New York, U.S., February 16, 2022. REUTERS/Carlo AllegriFeb 2(Reuters) - Starbucks Corp (SBUX.O) missed Wall Street expectations for quarterly comparable sales on Thursday, as persistent weakness in the coffee chain's China business offset strong sales in the North American market. That resulted in a 29% fall in China comparable sales for Starbucks in its first fiscal quarter ended Jan. 1, pulling total international comparable sales down 13%. Global comparable sales at Starbucks rose 5%, compared with analysts' average estimate of a 6.75% rise, according to Refinitiv IBES data. Starbucks reiterated its previous guidance of global comparable sales growth of 7% to 9% for its fiscal 2023.

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