For all Starbucks press releases, please visit the Starbucks Newsroom. Starbucks workers strike outside a Starbucks coffee shop on Nov. 17, 2022, in the Brooklyn borough of New York City. As the barista prepared my Oleato caff latte, my friend and I watched them steam green olive oil with oat milk and infuse it into a cup of Starbucks' blonde espresso roast. of Defense approval, BMO (TSX:BMO) & Scotiabank (TSX:BNS) slashed profits - a warning for rough times ahead, Infinity Stone (CSE:GEMS) completes airborne geophysics & expands land position at Zen-Whoberi Project, TSX: Venture lithium stocks primed for a 2023 breakout, Hydrogen fuel providing GHG solution to Canada's transport industry, The industrial stock leading growth among its TSX peers, Royal Bank (TSX:RY) & National Bank (TSX:NA) the latest lenders to report profit drops. The conference call will be webcast, including closed captioning, and can be accessed on the companys website at https://investor.starbucks.com/. 2023 Bloomberg L.P. All rights reserved. Schultz, who has been CEO of Starbucks on and off since the 1980s, told CNN that he returned to the company because it had "lost its way culturally" and he intends to "restore those values." He also ordered the company to bargain with the union at a Buffalo-area location where the union lost an election in December 2021, concluding that the scope of the violations at the store tainted the vote and made a rerun of the election an insufficient remedy. Sanders wants to question Schultz about reports that it has fired more than a dozen pro-union workers, among other things. Schultz, who stepped in as interim CEO of Starbucks in April 2022, told Harlow: "I don't think a union has a place in Starbucks. An email was sent with password retrieval instructions. On Wednesday, Starbucks corporate staff also sent an open letter protesting the companys alleged union-busting, and US Senator Bernie Sanders said the committee he chairs will vote next week on subpoenaing interim Chief Executive Officer Howard Schultz on the issue. SEATTLE--(BUSINESS WIRE)--Starbucks Corporation (NASDAQ: SBUX) today reported financial results for.. Press Releases One News Page: Tuesday, 27 July 2021. "As I prepare to pass the mantle of leadership to Laxman and the rest of the Executive Leadership Team, it's my deepest wish to share this moment of inspiration and love with you," Schultz wrote in a letter to employees on Tuesday. But we as a company have a right also to say: 'We have a different vision that is better, more dynamic, and we have a history to prove it.'". Today, with nearly 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. USD. American workers are demanding more from employers post-pandemic because of adrastic shift in work culture. Oleato drinks could also appeal to health-conscious consumers, Brewer said. ", He added: "If a de minimis group of people file for a petition to be unionized, they have a right to do so. Josh Eidelson. Top editors give you the stories you want delivered right to your inbox each weekday. On the morning of the Oleato launch, I arrived at 9 a.m., eager to try the new beverages. The art of coffee craft, curation and creation remains core to Starbucks. Schultz, who stepped in as. Trusted News Discovery Since 2008. March 1, 2023 Updated 7:10 p.m. SEATTLE, February 02, 2023--Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 1, 2023. The decision cited egregious and widespread misconduct, including illegal monitoring and firing of workers. In 2016, he drove the push to open Reserve Roasteries worldwide and stepped down to concentrate on that mission. Today, with over 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. articles a month for anyone to read, even non-subscribers! This has included covering full college tuition for staff, health insurance, and equity through stock options. One News Page. Cold foam, which the coffee chain launched in 2018, is one of the most-ordered modifiers as consumers shift to drinking more iced beverages. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Starbucks has said repeatedly that all claims of anti-union activity there are categorically false.. SEATTLE, November 30, 2022--Starbucks Corporation (NASDAQ: SBUX) today announced that its Board of Directors has approved a quarterly cash dividend of $0.53 per share of outstanding Common Stock. It's made with oat milk infused with olive oil, demerara syrup and a dash of . An unexpected alchemy of Starbucks® finest arabica coffee infused with Partanna® extra virgin olive oil offers a velvety smooth, deliciously lush new coffee experience, Unveiled at the Starbucks Reserve® Roastery Milan and Starbucks Italy stores, Oleato to launch in select markets worldwide over the coming year. To receive notifications via email, enter your email address and select at least one subscription below. The Partanna olive oil is steamed with oat milk for the latte, shaken in the iced espresso drink and infused in vanilla sweet cream foam to create the "golden" foam that tops cold brews. The Starbucks Reserve Roastery Milan will also debut five beverages to customers on Feb. 22: Oleato Caff Latte, Oleato Iced Cortado, Oleato Golden Foam Cold Brew, Oleato Deconstructed, and Oleato Golden Foam Espresso Martini. There are echoes of Schultz's last transition from the chief executive job. This increase will be effective with the dividend payment to be distributed on November 25, 2022, to shareholders of record on November 11, 2022, and raises the companys annual dividend rate to $2.12 per share. Oleato represents the next revolution in coffee that brings together an alchemy of nature’s finest ingredients Starbucks arabica coffee beans and Partanna cold pressed extra virgin olive oil,” said Howard Schultz, Starbucks interim chief executive officer. The main difference between this beverage and the iced shaken espresso was the foam's thickness. Starbucks has a new way to customize its coffee: olive oil. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Michael A. Rosas, a judge for the National Labor Relations Board, concluded that Starbucks had illegally monitored, disciplined and fired employees engaged in union organizing; added workers to stores to dilute support for the union; and promised new benefits to workers in an attempt to defuse support for the union. Instead of steaming the olive oil with the oat milk, the barista blended it at high speed before mixing it with the coffee and hazelnut syrup over ice cubes. Starbucks Corp. illegally fired six employees in New York State "in response to union activity," a National Labor Relations Board judge ruled Wednesday. "The word that a lot of people used is 'luxurious.'". Starbucks Corporation (NASDAQ: SBUX) today announced that its Board of Directors has approved an increase in the companys quarterly cash dividend from $0.49 to $0.53 per share. "I've talked to thousands of our Starbucks partners. Live market coverage co-anchored from Hong Kong and New York. In addition to reinstating the six fired workers, the judge said Starbucks should be ordered to reinstate a seventh illegally forced out of the company, to compensate workers whose hours were cut in response to the union campaign, and to create a video recording of Schultz attending a meeting with employees at which a notice about workers rights is read. Stay up to date with what you want to know. Trusted News Discovery Since 2008. Photo by ANGELA WEISS/AFP via Getty Images. Schultz is well-known for his opposition to unions and said workers trying to unionize are "angry at the world," in an interview with the Washington Post in October. Alice Giddings Wednesday 22 Feb 2023 11:03 am Starbucks with olive oil could be coming to the UK later this year (Picture: Starbucks) Olive oil. Starbucks CEO Kevin Johnson issued an apology, and the company changed its customer policy to allow anyone to use the chain's bathrooms, even if they're not buying coffee. Starbucks is launching olive oil-infused coffee in Italy, with plans for a U.S. launch this spring. Starbucks describes the caff latte as a "velvety smooth, deliciously lush latte." Each one contains a spoonful of Partanna, an Italian brand of extra-virgin olive oil. The first sip was interesting, but it tasted cloying and heavy after a few more. There, he said he partook in the Mediterranean custom of enjoying a spoonful of extra-virgin olive oil daily and wondered what it would be like to try it with his coffee. I decided to try the innovative drinks the day they launched at a Starbucks location in Florence. We also use them to share usage information with our partners. We will not release or resell your information to third parties without your permission. https://www.businesswire.com/news/home/20220928006026/en/, Starbucks Contact, Investor Relations: The blend was thoughtfully selected to pair perfectly with Starbucks coffee, which is then skillfully infused in the beverage to unlock a smooth and delicious experience like no other. 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View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005753/en/, Get the latest news and updates from Stockhouse on social media, Stockhouse.com uses cookies on this site. Starbucks said its conduct was lawful and consistent with its existing policies. Starbucks threatened and interrogated workers, restricted discussion of pay and deployed high-ranking officials to make repeated and unprecedented visits to stores in order to more closely supervise, monitor, or create the impression that employees union activities are under surveillance, the judge wrote. A second Starbucks in Las Vegas unionized with Starbucks Workers United after a Tuesday night vote. This ruling is the latest in a series of orders against the coffee chain, which is battling an unprecedented union campaign thats spread from Buffalo to hundreds of stores across the country. Q4 Comparable Store Sales Up 5% Globally, Led by 6% Comp Growth in the U.S. and 5% Comp Growth in China Global Net Store Growth of 7% Versus Prior Year, Led by 17% Net Store Growth in China GAAP EPS of $0.67; Non-GAAP EPS of $0.70, Up 13% Year-Over-Year Active Starbucks Rewards Membership in the U.S. Up 15% Year-Over-Year to 17.6 Million Returned $12 Billion to Shareholders in Fiscal 2019 . The ruling covers the period from August 2021 to July 2022, by which point the campaign had spread from the Buffalo area to dozens of stores nationwide. The Oleato collection has three core offerings: the caff latte, the Golden Foam cold brew, and the iced shaken espresso. PepsiCo, which releases bottled Starbucks coffee drinks, has announced a recall for one of its products. Select lots of 13.7-ounce glass bottled Starbucks Frappuccino Vanilla drinks have been voluntarily recalled, a representative for PepsiCo, on behalf of the North American Coffee Partnership, said in a statement to ABC News. Starbucks has historically painted a picture of being a progressive company that treats workers well and offers good benefits. as well as other partner offers and accept our. Cold beverages accounted for more than three-quarters of drink orders in November. Since then, more than 280 of the roughly 9,300 corporate-owned Starbucks locations in the United States have unionized. To share in the experience, please visit us in our stores or online at http://news.starbucks.com or, Press Release RSS Feed (opens in new window), Contact Information and Shareholder Assistance, Starbucks Announces Q1 Fiscal Year 2023 Results Conference Call. The first sips of both iced drinks were pleasant and complex, and they'll probably go down easily for iced-coffee enthusiasts. Celebrities including Kourtney Kardashian have endorsed drinking it, while startups like Saint Supply are selling their own olive oil expressly for drinking, not cooking. I went back the following day with my Starbucks-loving friend in tow. Starbucks has previously been accused of using illegal tactics to deter staff from unionizing. Schultz said that Starbucks worker unionization efforts in America are reflective of a much bigger macro problem beyond the company itself. He also said he couldn't see himself "embracing the union" in an interview with The New York Times in June. Starbucks' new winter . Starbucks Oleato beverages that will be served in Starbucks stores around the world: In select markets, customers will also be able to add a press the equivalent to a spoonful of Partanna extra virgin olive oil as a customization to select beverages. CEO Howard Schultz teased the release on Starbucks' earnings call, calling it "alchemy" and a "game-changer". Starbucks Reports Q1 Fiscal 2023 Results Q1 Consolidated Net Revenues Up 8% to a Record $8.7 Billion Q1 Comparable Store Sales Up 5% Globally; Up 10% in the U.S; Up Double Digits Internationally, Excluding China Q1 GAAP EPS $0.74; Non-GAAP EPS $0.75; Performance Materially Impacted by Headwinds in China A replay of the webcast will be available on the companys website until end of day, Friday, March 3, 2023. Starbucks Doubleshot Espresso, Espresso & Cream, 6.5 ounce each, four-pack: Pack UPC 012000104510 and can UPC 012000001772 with a manufacturing date of Aug. 27 or 28 and a lot/expiration code of March 28, 2022 The products can further be identified by a "MA" designation in the lot code on the label. Sen. Bernie Sanders is raising the stakes in his effort to get Starbucks interim CEO Howard Schultz to testify at a Senate hearing about an ongoing unionization effort at the company. Additionally, inflation has outstripped wage growthin the US, creating further dissatisfaction. If the vote passes and its likely it would, since Democrats are in the majority on the committee Schultz would be required to appear before the committee on March 15. You must click the link in the email to activate your subscription. The United Kingdom, Japan and the Middle East will follow later this year. Starbucks' new Oleato line features three olive oil-infused coffee beverages. The new "Oleato" line is the brainchild of CEO Howard Schultz, who is stepping down in April. Newcomer Laxman Narasimhan will succeed him after spending months at Starbucks learning the ins and outs of the business. The agency can order policies changed and workers reinstated, but lacks authority to hold executives personally liable or make companies pay punitive damages for violations. Currency in USD, Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies. At least 289 company-owned U.S. Starbucks stores have voted to unionize since late 2021. 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