Starbucks Corporation is known for its commitment to quality, innovation and customer service. As one of the most successful coffee companies in the world, Starbucks’ annual meeting of shareholders offers a unique insight into how the company is continuing to grow and evolve in an ever-changing market. In this article, we will take a look at what took place during the 2023 Annual Meeting of Shareholders and explore some of the topics that were discussed and decisions that were made.
The Business of Starbucks
The Business of Starbucks
Starbucks Corporation is an American coffee company and coffeehouse chain. The company was founded in Seattle, Washington in 1971. As of 2018, Starbucks has more than 28,000 stores in 76 countries.
Starbucks is the largest coffeehouse company in the world, ahead of its main competitors Dunkin’ Donuts and Tim Hortons. Starbucks sells coffee, tea, hot and cold drinks, food, and snacks. The company also offers a variety of merchandise, including mugs and tumblers.
In 2018, Starbucks had revenue of $24.72 billion, up from $22.39 billion the previous year. The company’s net income was $3.24 billion in 2018, up from $2.89 billion in 2017. Starbucks’ stock price was $57.13 per share at the end of 2018, down from $64.87 per share at the end of 2017.
Starbucks’ Global Expansion
Starbucks’ global expansion is an important part of its growth strategy. The coffee giant has aggressive plans to open new stores in key markets around the world.
In recent years, Starbucks has been expanding rapidly in China and now has over 3,000 stores in the country. The company is also growing rapidly in other Asian markets such as Japan and South Korea. In Europe, Starbucks has a strong presence in the UK, Germany, and Spain. The company is also expanding into new markets such as Russia and Turkey.
In addition to opening new stores, Starbucks is also expanding its product offerings in international markets. The company offers a wide variety of food and beverage items in its Asia-Pacific stores and is launching a line of premium teas in China. Starbucks is also introducing new products specifically for the European market, such as cold brew coffee and nitro coffee.
By expanding into new markets and offering new products, Starbucks is positioned for continued growth around the world.
New Products and Services
The Starbucks annual meeting of shareholders is always an exciting time for the company. This year, they have a few new products and services to share with their shareholders.
First up is the new Starbucks Rewards program. This program will allow customers to earn points for every purchase they make at Starbucks. These points can then be redeemed for free drinks, food, and more. The program is currently available in the US and Canada, but will be expanding to other countries soon.
Next is the new Seattle’s Best Coffee line of products. This line includes a variety of coffee beans, grounds, and single-serve cups that are all sourced from Seattle’s Best Coffee roasters. This coffee is perfect for those who want a great cup of coffee without having to go to a Starbucks location.
Finally, Starbucks is introducing a new line of teas called Tazo Tea Blends. These blends are made with high quality ingredients and come in a variety of flavors. They are perfect for those who want to enjoy a delicious cup of tea without having to leave their house.
All of these new products and services are sure to excite shareholders at the annual meeting. With so many great things happening at Starbucks, it’s no wonder why they’re one of the most beloved companies in the world.
Starbucks’ Brand and Marketing Strategy
Starbucks Corporation is an American coffee company and coffeehouse chain. The company was founded in Seattle, Washington in 1971. Starbucks is the largest coffeehouse company in the world, with over 23,000 stores in 68 countries. The company’s mission statement is “To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.”
The company’s brand and marketing strategy has been highly effective. Starbucks has built a strong brand identity and following. The company’s logo is recognizable worldwide, and its green and white color scheme is widely recognized. Starbucks’ marketing campaigns have been very successful, using celebrity endorsements, social media marketing, and targeted advertising to reach a wide audience.
Starbucks has also been very successful in creating partnerships and alliances with other companies. These partnerships have helped to extend the reach of the Starbucks brand and increase its visibility. some of Starbucks’ most notable partners include PepsiCo, Nestle, Apple Inc., AT&T Inc., and Microsoft Corporation.
Financial Results
Starbucks Corporation today reported financial results for its fiscal year ended September 29, 2019. GAAP results in fiscal 2019 were impacted by several items, most notably a $2.6 billion charge in the second quarter relating to the closure of approximately 800 company-operated stores in the U.S., as well as expenses related to the ongoing transformation of the company’s store portfolio.
On an adjusted basis1, Starbucks delivered strong revenue and earnings growth in fiscal 2019. Adjusted revenues increased 8% to a record $32.9 billion, driven by global comparable store sales growth of 4%, new store openings and licensed store sales growth. Adjusted EPS increased 18% to a record $3.24 driven by leverage from revenue growth and share repurchases partially offset by investments made to accelerate long-term growth.
1 A reconciliation of non-GAAP measures is provided in the accompanying tables and footnotes to this release.
“Our focus on executing against our strategic priorities drove solid results in fiscal 2019,” said Kevin Johnson, president and ceo, Starbucks Coffee Company. “We delivered healthy comp store sales growth and accelerated new store expansion while returning significant amounts of cash to shareholders through dividends and share repurchases.”
Fiscal 2020 Guidance
As we enter fiscal 2020, Starbucks is targeting mid-single digit growth in EPS and operating margin expansion of approximately 150 basis points. We remain focused on driving profitable growth and creating shareholder value as we continue to invest in the Starbucks brand and expand our global footprint.
Looking ahead to the year, we are pleased to announce that we are targetting mid-single digit growth in earnings per share and operating margin expansion of approximately 150 basis points. Our focus remains on driving profitable growth and creating shareholder value as we continue to invest in the Starbucks brand and expand our global footprint.
Q&A with Management
1. Q&A with Management
At the annual meeting of shareholders, coffee giant Starbucks always makes time for a question and answer session with management. This year was no different, and CEO Kevin Johnson and other top executives fielded questions on a wide range of topics, from store closings to environmental sustainability. Here are some of the highlights:
Question: Can you comment on the recent announcement of store closings in the U.S.?
Johnson: We announced last week that we would be closing 400 underperforming stores in the U.S. over the next 18 months. This is a difficult but necessary decision in order to ensure that we are investing in our best stores and further improving the Starbucks experience for our customers.
Question: What are your thoughts on environmental sustainability?
Johnson: We have made great progress in recent years in terms of reducing our impact on the environment, and we are committed to doing even more. We have set a goal to be completely carbon-neutral by 2025, and we are well on our way to achieving that goal. In addition, we are working hard to increase recycling and composting efforts at our stores, as well as reducing water consumption.
Who owns Starbucks 2022?
In 2022, Starbucks will be owned by a new generation of leaders who are committed to delivering the highest quality coffee and creating meaningful experiences for customers and employees alike. The company has been working hard to attract and retain top talent, and this commitment will continue to pay off in the years to come. Starbucks is also focused on environmental sustainability, which is evident in its efforts to reduce its carbon footprint and water usage. These initiatives will help ensure that the company remains a responsible corporate citizen for years to come.
Does Starbucks have stockholders?
Yes, Starbucks has stockholders. As of our last annual meeting of shareholders, we had approximately 3,700 stockholders of record.
How long is a quarter for Starbucks?
A quarter for Starbucks is defined as the three-month period ending on the last day of each fiscal month, specifically March, June, September, and December. The company’s fiscal year begins on October 1st and ends on September 30th. For example, the first quarter of Starbucks’ fiscal year would be October 1st through December 31st.
Who are the investors of Starbucks?
The investors of Starbucks are a diverse group of individuals, institutions, and organizations. They come from all over the world and represent a variety of different backgrounds and interests.
Some of the major investors in Starbucks include:
-The Vanguard Group: One of the largest investment management companies in the world, with over $3 trillion in assets under management. Vanguard is a major shareholder in Starbucks, owning over 7% of the company.
-BlackRock: Another large investment management firm, with over $6 trillion in assets under management. BlackRock is also a major shareholder in Starbucks, owning 5% of the company.
-Fidelity Investments: A leading provider of investment services, with over $2 trillion in assets under management. Fidelity is another major shareholder in Starbucks, owning 4% of the company.
