Starbucks Coffee Company details five-year strategic growth plan at its biennial Investor Day
- Company Forecasts Continued Strong Growth and Plans to Launch Mobile Order & Pay and Delivery in the U.S.
- Identifies High-Value Opportunities in China, India, Japan and Brazil
- Projects Revenues to Approach $30 Billion in FY2019, up from $16 Billion in FY2014
- Announces Transformational Innovations to Extend Starbucks Global Leadership in Coffee, Tea, Retail Store and Partner Experience
- Elevates and Redefines the Premium Coffee Experience with the Debut of the World’s First, Immersive Starbucks Reserve® Roastery and Tasting Room in Seattle
SEATTLE, 2014-12-4 — /EPR Retail News/ — Starbucks Coffee Company (NASDAQ: SBUX) chairman, president and chief executive officer Howard Schultz and other company leaders will detail Starbucks five-year strategic growth plan today at its biennial Investor Day, hosted at the company’s Support Center in Seattle for the first time in a decade.
“The seismic shift in consumer behavior underway presents tremendous opportunity for businesses the world over that are prepared and positioned to seize it,” Schultz said. “Over the next five years, Starbucks will continue to lean into this new era by innovating in transformational ways across coffee, tea and retail, elevating our customer and partner experiences, continuing to extend our leadership position in digital and mobile technologies, and unlocking new markets, channels and formats around the world. Investing in our coffee, our people and the communities we serve will remain at our core as we continue to redefine the role and responsibility of a public company in today’s disruptive global consumer, economic and retail environments.”
“Starbucks business, operations and growth trajectory around the world have never been stronger, and we are more confident than ever in our ability to continue to drive significant growth and meet our long term financial targets,” said Troy Alstead, Starbucks chief operating officer. “We have more customers visiting more stores more frequently, both in the U.S. and around the world, than at any time in our history. And we expect both the number of customers visiting our stores and the amount they spend with us to accelerate in the years ahead. With a robust pipeline of mobile commerce innovations that will drive transactions and unprecedented speed of service, Starbucks is ushering in a new era of customer convenience. We believe the runway of opportunity for Starbucks inside and outside of our stores is both vast and unmatched by any other retailer on the planet.”
Coffee and Tea Leadership
Starbucks Investor Day is being hosted on the eve of the grand opening of the first-of-its-kind Starbucks Reserve® Roastery and Tasting Room. Located on Pike Street in Seattle just a few blocks from the company’s iconic first retail store, the 15,000 square foot Starbucks Reserve® Roastery and Tasting Room is an interactive coffee and dining venue that redefines delivery of an immersive brand experience. Moreover, the additional small batch roasting capacity afforded by the new Roastery will enable Starbucks to expand availability of its super-premium, micro-lot Starbucks Reserve® Coffee to 1,500 locations globally, and to support the launch of Starbucks new Starbucks Reserve® brand and the opening of the first 100 dedicated Starbucks Reserve stores.
Building on Starbucks 43-year tea heritage and its acquisition of Teavana two years ago, Starbucks is reinventing the $109 billion global tea category, just as it did the coffee category more than 40 years ago. The new Teavana® store in Seattle’s Pacific Place and the new Teavana® Tea Bar at Broadway & 9th in New York City are performing ahead of plan, and Teavana will continue to expand and to bring its super-premium loose leaf teas, handcrafted beverages and exclusive food offerings to carefully targeted markets both in the U.S. and abroad.
In addition, building on the successful launch of handcrafted Teavana® Shaken Iced Tea through Starbucks® stores earlier this year and the innovative partnership with Oprah Winfrey around Teavana® Oprah Chai Tea, Teavana will continue to grow its presence in Starbucks® retail stores with sachets, innovative iced teas and expansion of the Chai tea platform.
Day Part and Store Format Diversification
Starbucks® food program continues to resonate strongly with consumers across all day parts, and to drive both traffic and ticket growth in the U.S. and around the world. The company expects continued top and bottom-line growth in its food platform as it elevates and expands its offering of savory, locally relevant food offerings around the world. In addition, the company announced plans to double its U.S. food revenue to over $4 billion over the next five years.
By the end of FY2019, 20-25% of Starbucks® stores in the U.S. will offer the Starbucks Evenings experience, adding approximately $1 billion in revenue. The expansion of Starbucks Evenings, Starbucks Reserve only stores, micro and express store formats, new drive-thrus and mobile trucks are just a few of the innovations customers will see beginning in 2015.
Mobile Commerce Momentum and Innovation Continues with the Launch of Mobile Order & Pay
Starbucks is the global market leader in mobile payment. With more than eight million loyalty members, seven million mobile payment transactions each week and more than $4 billion loaded onto prepaid Starbucks Cards in North America in the past year alone, Starbucks offers the largest and most robust mobile ecosystem of any retailer in the world.
Starbucks is once again raising the bar for mobile commerce innovation with the launch of “Mobile Order & Pay” and food and beverage delivery. Starbucks introduced its fully-integrated Mobile Order & Pay platform – representing the most meaningful enhancement to the customer ordering experience since the company first introduced drive-thrus in 1994 – to customers in the Portland, Oregon area yesterday. Now, and for the first time, Mobile Order & Pay will allow customers to place orders in advance of their visit, and to pick up their ready order at their preferred Starbucks® store – improving speed of service, enhancing customer loyalty and the customer experience, streamlining store operations and further extending Starbucks leadership position in mobile commerce and customer loyalty. The Portland launch will be followed by a national rollout of Mobile Order & Pay in 2015.
“Of all the new traffic-driving initiatives for the company, Mobile Order & Pay is at the top of that list and we are confident that it will be game-changing for our customers and our business,” said Adam Brotman, Starbucks chief digital officer. “We have designed the full mobile ordering experience – from the app itself, to the pick-up of the food and beverages, to the engagement with the baristas in our stores – to be a seamless and natural extension of the existing Starbucks Experience. We believe that the addition of Mobile Order & Pay into what is already one of the most widely used apps in the country will encourage customers to explore even more of our menu, will attract new customers to Starbucks, and will encourage incremental occasions to visit our stores.”
Furthermore, the national rollout of Mobile Order & Pay will lay the foundation for Starbucks launch of food and beverage delivery in select metropolitan areas later in the year. Inclusion of the delivery option furthers the company’s goal of providing convenience and the complete Starbucks Experience to customers however, whenever and wherever they want it – even if they are unable to visit a Starbucks retail location.
The success of Starbucks mobile payment and loyalty programs will also allow the company to bring to the table the constituent pieces necessary to build a consumer proposition for a mobile payment network with retailers outside of the Starbucks® store footprint in fiscal year 2016. This platform – in which customers would earn Stars by using a stored value account, much as they do at Starbucks today – would create opportunities for other retailers to reward their most loyal customers, also benefiting Starbucks by creating incremental traffic opportunities.
Global and Channel Expansion
Starbucks China and Asia-Pacific region represent enormous, immediate, high-value opportunities for the company, and Starbucks today announced plans to double its store count in China – to over 3,000 stores – by 2019. When completed in the second quarter of 2015, Starbucks acquisition of Starbucks Japan – the company’s first international market outside of North America and with more than 1,000 stores its second largest market overall in retail store sales – will position Starbucks to further accelerate growth in the dynamic, rapidly-growing CAP region.
Starbucks is the industry leader in premium single serve, premium packaged roast and ground coffee, and Ready-to-Drink products served outside the company’s retail stores and is ideally positioned to grow its share of these markets both in the U.S. and globally. At Investor Day 2014, company leaders will share that over the next five years Starbucks Channel Development segment will grow its revenue by 60%, nearly double its operating income, and more than double its RTD business outside of the U.S. with a specific focus on unlocking untapped opportunities across the company’s China and Asia-Pacific region.
Financial and Operating Performance through the Lens of Humanity
As Starbucks accelerates the growth across its business and around the world it will continue to balance industry-leading performance with its core mission and values. The company’s commitment to its values, its partners (employees) and the communities it serves was demonstrated through several leadership initiatives over the past year, including:
Starbucks commitment to hire at least 10,000 veterans and military spouses by 2018 and its partnership with HBO and Chase to host the historic Concert For Valor. The Concert For Valor saluted America’s veterans and was held on the National Mall in Washington, D.C. on Veterans Day. The concert was attended by hundreds of thousands – with more than one million viewing the event live and on demand, remotely. In its first year, Starbucks has already placed more than 1,000 veterans and active duty military spouses into roles that leverage their skills, dedication, discipline and leadership and the company announced plans to double that number in 2015. In November, Schultz co-authored For Love of Country: What Our Veterans Can Teach Us About Citizenship, Heroism and Sacrifice. The book, from which all proceeds are being devoted to veterans’ service organizations, has already received numerous accolades including ranking as one of The Wall Street Journal’s top five best-selling books.
Last summer Starbucks announced the creation of Starbucks College Achievement Plan, a first-of-its-kind partnership with Arizona State University (ASU) that makes it possible for eligible Starbucks partners to finish a bachelor’s degree with full tuition coverage for their junior and senior years through ASU’s top-ranked online degree program. More than 1,000 partners have enrolled in the first Fall session and thousands more have started the application process.
To learn more about Starbucks 2014 Investor Day, visit Starbucks Investor Relations website. For news updates and images from the event, visit the Starbucks Newsroom.
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at Starbucks.com.
Forward Looking Statements
Certain statements contained herein are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “anticipate,” “expect,” “believe,” “could,” “estimate,” “feel,” “forecast,” “intend,” “may,” “plan,” “ potential,” “project,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based upon information available to Starbucks as of the date hereof, and Starbucks actual results or performance could different materially from those stated or implied due to risks and uncertainties associated with its business. These risks and uncertainties include, but are not limited to, costs associated with, and the successful execution of, the company’s initiatives and plans, the acceptance of the company’s products by our customers, fluctuations in U.S. and international economies and currencies, our ability to preserve, grow and leverage our brands, potential negative effects of material breaches of our information technology systems if any were to occur, the impact of competition, coffee, dairy and other raw material prices and availability, the effect of legal proceedings, and other risks detailed in the company filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Starbucks Annual Report on Form 10-K for the fiscal year ended September 28, 2014. The company assumes no obligation to update any of these forward-looking statements.
For more information on this news release, contact us.
Casper expands virtual food hall model with Franklin Junction’s Host Kitchen® technology
GHENT, 14-Mar-2023 — /EuropaWire/ — Franklin Junction partners with Casper, a modern day food hall offering 100% virtual orders for takeout and delivery, to expand iconic American restaurant brands to Benelux and France. Franklin Junction founder, Rishi Nigam, and Casper founder, Matthias Laga, presented their expansion plans at the recent International Ghost Kitchen Conference in Amsterdam, Netherlands.
Franklin Junction has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023 as they continue to deliver innovative technology solutions for restaurants in the US and now abroad. Leading the way with their proprietary Host Kitchen® model, Franklin Junction has grown into a full suite of solution services to empower restaurant success in the digital age. In 2022, Franklin Junction introduced its AI-powered digital food hall that allows consumers to order food and earn loyalty from multiple concepts in a single transaction and delivery.
“As industry leaders driving the growth of American restaurant brands in new markets, we have received a tremendous amount of interest to expand to the European market for a few years now,” shares Franklin Junction CEO Rishi Nigam. “After getting to know Matthias and the entire Casper team over the past year, we have full confidence that they are a trusted partner to expand globally with and we’re thrilled to bring iconic American fare to new diners across Europe.”
Casper launched in Ghent, Belgium and raised €5 million for their Series A in 2022 with the objective of creating a hybrid restaurant and food hall model where customers can walk-in to place orders for takeout or order through digital channels for delivery. In just a short time, Casper has expanded to over 10 locations in Belgium, the Netherlands, and France, with an expansion goal of 50 kitchens by 2024.
“We’re very excited to partner with Franklin Junction and begin by introducing Nathan’s Famous’ authentic New York flavors to our European customers in the coming weeks,” states Matthias Laga, Co-founder and CEO of Casper. “Franklin Junction uniquely understands restaurants, multi-concept food halls, and restaurant eCommerce and their proprietary processes are extremely virtuous for all stakeholders.”
coop & spree launches a retail, business, and sports podcast called coop convos
The Retailer will interview CEOs, influencers, and professional athletes on a weekly basis
New York, New York, USA, 2022-Dec-23 — /EPR Network/ — coop & spree, the New York City based contemporary retailer, has launched a podcast called coop convos, which is all things business, retail, sports and wellness. Coop convos is hosted by coop & spree CEO and founder, Brooke S. Richman, who will interview various business leaders, tastemakers, and influencers in their aforementioned industries. Since Richman is an avid New York Knicks Fan (the Spree in coop & spree comes from her childhood pup’s name which paid homage to former Knick, Latrell Sprewell), she’s even interviewed and secured some former NBA stars.
The Podcast is available on over 10 platforms, and the first episode will likely air February 1st, 202 depending on the rifting process. To date, Richman has secured over 35 prestigious guests and has already recorded episodes with Stephanie Gottlieb, founder of Stephanie Gottlieb Fine Jewelry, Dale Stabler, wellness entrepreneur and co-founder of Sweats + The City, co-founder of the Orro + Theheard apps, and Allan Houston, the 2x NBA All-Star for the New York Knicks, Olympic Gold Medalist, and founder of FISLL,
Notable confirmed guests include Emily Faith Strauss, founder and designer of EF Collection, Helen Hall-Leland, CEO of Blender Bombs and Hustle Smoothie Bar, Alexa Leigh Meyer Mufson, founder and designer of Alexa Leigh, and John Wallace, former NBA star, current investor, philanthropist and New York Knick radio host.
During the start of the pandemic in March 2020, Richman moved temporarily from her NYC apartment to her childhood home in Greenwich, CT, where she learned how to code and created her e-comm website, coopandspreevip.com. Since her Elizabeth Street store in NYC was closed due to the pandemic, she had all her vendors ship her orders to her CT home where she fulfilled them. When she wasn’t opening new merchandise or packaging her clients’ orders, she would use Instagram live as a way to engage with her coop & spree audience, since she no longer could interact with them in person. She decided to start interviewing different designers and influencers, many of whom she knew and many of whom she had never met, and she absolutely loved it. So did her audience. It turned into a weekly tradition and the rest, as they say, is history. Not only did these weekly IG TV “interviews” create much needed connection at a time of unprecedented isolation, but also, they provided Richman, and coop & spree, with a new way of engaging with both customers and vendors.
Coop convos has the same format as Richman’s IG lives, where Richman focuses on each guest’s career path and personal story, in a relaxed format, that seems less like an interview and more like two old friends catching up. While the Podcast’s main goal is to provide valuable and informative insights and resources to those specifically interested in entrepreneurship, retail, sports, and wellness, Richman promises it’s also filled with lighthearted banter and just the right number of laughs.
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ABOUT COOP & SPREE
coop & spree, the brainchild of founder and CEO Brooke S. Richman, first opened in August 2014 in downtown New York City’s Nolita neighborhood as a multi-brand contemporary women’s apparel, accessory, and jewelry boutique. While it was solely brick-and-mortar by design when it opened, coop & spree had to pivot during the COVID-19 pandemic and is now a full-fledged omni-channel retailer with over 70 brands. It operates both a physical store in New York City’s NoHoc neighborhood, via appointment only, and has an e-commerce shopping site. In addition to selling women’s contemporary apparel, accessories, and jewelry, coop & spree has expanded its product offering to include an extensive assortment of children’s apparel and accessories, health and wellness products, paper goods, novelty items and more. coop & spree was just listed this month as a winner on the Inc. Magazine’s Best of Business 2022 list in the “Lean and Mean” category due to its unwavering commitment to philanthropy, specifically to NYC based non-profits which help underprivileged youths in NYC. It’s been featured in publications such as Women’s Wear Daily, The New York Times, US Weekly, Huffington Post, Business Insider and more.
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ContactPigeon expands in Cyprus and sponsors the 14th e-Commerce Conference
NICOSIA, Cyprus, 2022-Sep-28 — /EPR Network/ — ContactPigeon, one of the leading omnichannel customer engagement platforms for retailers in Europe and the USA, expands its operations in Cyprus. By building up a special team of professionals that will be based in the neighboring country, ContactPigeon will be providing its customer engagement services to its cross-industry clients that are operating there. With this expansion, the Greek startup aims to consolidate its reach to the thriving Cyprus market.
Furthermore, ContactPigeon becomes an official sponsor for the 14th e-Commerce Conference that took place in Nicosia, Cyprus on the 20th of September 2022.
The E-Commerce Conference by IMH is a benchmark for the e-commerce industry in Cyprus. With industry experts as keynote speakers and leading businesses as sponsors and participants, the conference presents the upcoming, international trends in the e-commerce sector as well as case studies that provide attendees with valuable knowledge and insights. The 14th E-Commerce Conference is addressed to entrepreneurs, Commercial Managers, Marketing & Communication and advertising professionals, Digital Managers, and also those who are interested to start operating in the e-Commerce sector.
This year, the participants had the opportunity to meet with ContactPigeon members at its booth and learn about the company’s activities and the benefits of its omnichannel customer engagement platform.
ContactPigeon empowers marketing leaders and business owners with the only omnichannel customer engagement platform built for retailers. The platform is designed to deliver perfectly timed and personalized messages for each customer, regardless of whether the point of contact is offline or online. The company has been awarded numerous industry awards and distinctions since 2015 and is also a member of the Pledge 1% corporate philanthropy movement. Its client base consists of hundreds of retailers in Europe and the USA such as Fujitsu, Tommy Hilfiger, GAP, and L’OREAL.
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