DIRS.INFO The most relevant business & tech news

☆ Starbucks just had a ‘disappointing’ quarter. Here’s how it plans to turn things around
▼ + stars: | 2024-05-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Starbucks is brewing a turnaround plan that involves speedier service and expanding the number of promotions after its most recent quarter was “disappointing,” in the words of its own chief executive. “Let me be clear from the beginning, our performance this quarter was disappointing,” said CEO Laxman Narasimhan on the earnings call. Same-store sales in the United States fell 3%, a sharp reversal from the same quarter a year ago, when they grew 12%. In China, the chain’s second-largest market, sales fell a staggering 11%, with the company blaming competition from “value players” in the country. Starbucks is now forecasting revenue to grow in the low single digits, a steep decline from its previous forecast of 7% to 10%.

Persons: ”, Laxman Narasimhan, ” Narasimhan, “ Headwinds, Narasimhan Organizations: New, New York CNN, Starbucks, East, Alshaya Locations: New York, United States, China, Gaza

☆ Starbucks Middle East franchisee to slash over 2,000 jobs as boycotts linked to the Israel-Gaza conflict hit Western brands, says report
▼ + stars: | 2024-03-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. In a statement in December, Starbucks CEO Laxman Narasimhan said protesters had been "influenced by misrepresentation on social media" of what the company stands for. AdvertisementA Starbucks spokesperson told Business Insider: "As Alshaya reviews its business portfolio they have made the difficult decision to eliminate some roles in their Starbucks store portfolio." The layoffs came as Starbucks and other Western brands such as McDonald's and KFC have faced consumer boycotts over the Israel-Gaza war. "So long as this war is going on ... we're not expecting to see any significant improvement (in these markets)," McDonald's CEO Chris Kempczinski said.

Persons: —, Laxman Narasimhan, AlShaya, Narasimhan, we're, Chris Kempczinski, Jack Guez Organizations: Service, Reuters, Palestine, Business, Starbucks, AlShaya, KFC, Getty Locations: East, North Africa, Gaza, Israel, Palestine, Kuwait, Indonesia, Malaysia, France, Sderot, AFP

☆ Starbucks is laying off thousands of workers in the Middle East in response to Gaza boycotts
▼ + stars: | 2024-03-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Starbucks’ Middle East franchisee, Alshaya Group, is cutting thousands of jobs at its coffee shops because of a “challenging” work environment as the chain grapples with boycotts over the brand relating to Israel’s war against Hamas in Gaza. Kuwait-based Alshaya has owned rights to operate Starbucks in the Middle East for more than 25 years and operates around 1,300 locations across the region, employing about 11,000 people. Starbucks’ most recent earnings report missed expectations, partially because of weaker sales in the region. Starbucks isn’t alone: McDonald’s said last month that it’s experiencing “meaningful business impact” in the Middle East because of the war. Brands, which owns KFC and Pizza Hut, said its chains’ “sales were impacted by the conflict in the Middle East region with varying degrees of impact,” which dented same-store sales growth in several countries.

Persons: Alshaya, “, ”, McDonald’s Organizations: New, New York CNN, Starbucks, East, Alshaya, CNN, Reuters, Alshaya Group, Brands Locations: New York, Gaza, East, Northern Africa, Kuwait, Western

☆ Middle East Crisis Israeli’s Military Turns Back Convoy Trying to Get Food Into Gaza, U.N. Agency Says
▼ + stars: | 2024-03-06 | by ( Anushka Patil | ) www.nytimes.com time to read: +3 min

Starbucks franchise operators across the Middle East and Southeast Asia are losing significant business amid boycotts linked to the Israel-Hamas war, and at least one has started laying off employees. “I think all those who are boycotting Starbucks Malaysia should know that it is a Malaysia-owned company,” he said. A similar post was published on the site for Starbucks in the Middle East. In January, Starbucks cut its global annual sales forecast as the Israel-Hamas war hurt the business of its licensees in the Middle East. Starbucks said it would continue to grow its business in the Middle East, including working with Alshaya Group in developing plans for the region.

Persons: Vincent Tan, ”, Laxman Narasimhan, Howard Schultz Organizations: Starbucks, Alshaya, Hamas, Food Berhad, Starbucks Malaysia, Alshaya Group Locations: East, Southeast Asia, Israel, Kuwait, North Africa, United States, Malaysia

☆ Mideast Starbucks franchisee firing 2,000 workers after being targeted in Israel-Hamas war boycott
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +2 min

The Middle East franchisee of Starbucks said Tuesday it has begun firing around 2,000 workers at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip. Alshaya runs about 1,900 Starbucks branches in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey and United Arab Emirates. Since the beginning of the war on Oct. 7, Starbucks has found itself alongside other Western brands targeted by pro-Palestinian activists over the war. In October, Starbucks sued Workers United, which has organized workers in at least 370 U.S. Starbucks stores. Starbucks isn't the only brand targeted by activists in the war.

Persons: Alshaya, Boycotters Organizations: East, Starbucks, Reuters, Workers United, Israel, McDonald's Locations: Israel, Gaza, Kuwait, Bahrain, Egypt, Jordan, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey, United Arab Emirates, Seattle, U.S

DUBAI, United Arab Emirates (AP) — The Middle East franchisee of Starbucks said Tuesday it has begun firing around 2,000 workers at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip. Alshaya runs about 1,900 Starbucks branches in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey and United Arab Emirates. Since the beginning of the war on Oct. 7, Starbucks has found itself alongside other Western brands targeted by pro-Palestinian activists over the war. “We do not use our profits to fund any government or military operations anywhere — and never have.”In October, Starbucks sued Workers United, which has organized workers in at least 370 U.S. Starbucks stores. Starbucks isn't the only brand targeted by activists in the war.

Persons: Alshaya, “, Boycotters Organizations: United Arab Emirates, East, Starbucks, Reuters, Workers United, Israel, McDonald's Locations: DUBAI, United Arab, Israel, Gaza, Kuwait, Bahrain, Egypt, Jordan, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey, United Arab Emirates, Seattle, U.S

☆ Starbucks Franchise Lays Off Workers in Mideast Amid Gaza-Tied Boycotts
▼ + stars: | 2024-03-05 | by ( Liz Alderman | ) www.nytimes.com time to read: 1 min

Starbucks franchise operators across the Middle East and Southeast Asia are losing significant business amid boycotts linked to the Israel-Hamas war, and at least one has started laying off employees. Alshaya Group, a Kuwait-based franchise operator that owns the rights to operate Starbucks in the Middle East, confirmed on Tuesday that it planned to cut 2,000 jobs across the region “as a result of the continually challenging trading conditions over the last six months.”Alshaya Group, which operates over 1,900 Starbucks shops in the Middle East and North Africa that employ 19,000 workers, said in a statement that it would provide affected employees and their families with “the support they need.”The cuts added to drama playing out in the United States, where Starbucks management and a union of Starbucks workers sued each other after the union expressed solidarity with Palestinians.

Persons: ” Organizations: Starbucks, Alshaya, ” Alshaya Locations: East, Southeast Asia, Israel, Kuwait, North Africa, United States

☆ Chipotle signs first-ever franchise partner to open locations in the Middle East
▼ + stars: | 2023-07-18 | by ( Kate Rogers | ) www.cnbc.com time to read: +1 min

Chipotle announced Tuesday it has signed an agreement with Kuwait-based Alshaya Group, its first-ever franchise partner, to open locations in the Middle East next year. The Alshaya agreement marks the first time Chipotle has enlisted a local franchise retail operator as it moves into a new market. Chipotle CEO Brian Niccol told CNBC in an interview that the initial plan calls for two locations each in Dubai and Kuwait, with exact locations yet to be determined. "They've got great brands, great operations, great people programs, which just gave us confidence that they'd be able to execute the Chipotle proposition effectively in the Middle East," Niccol said. In evaluating the Middle East market, Niccol said it was important to partner up to ensure success in everything from real estate to hiring to supply chain.

Persons: Chipotle, Brian Niccol, Niccol, They've, they'd Organizations: Group, CNBC, Starbucks, Texas Locations: Chicago, United States, Kuwait, Canada, Europe, U.S, Dubai, Shack

Search resuls for: "Alshaya Group"

8 mentions found