Category: Starbucks Corp.

Starbucks Announces Suspension of Share Buybacks, White House Might Have Influenced Decision

April 4, 2022
Business & EconomyCompaniesHoward SchultzMarketsshare buybacksStarbucks Corp.stocksunionizationUSUS News
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Starbucks Corp. has decided to do away with share buybacks and plans to boost investment into operations, the company’s returning CEO Howard Schulz said in an open letter on April 4. “Starting immediately, we are suspending our share repurchasing program. This decision will allow us to invest more profit into our people and our stores—the…

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Starbucks Raises Prices as Inflation Eats Into Profits

February 2, 2022
Business & EconomyBusinesses in COVID-19Companiesconsumer price indexeconomyfood pricesinflationStarbucks Corp.USUS News
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Starbucks said it will continue to raise menu prices because of inflationary pressures and persistent supply chain disruptions that have resulted in manufacturers across industries being unable to receive raw materials on time. “[We have] already taken pricing actions this fiscal year, one in October 2021 and another in January 2022. And we have additional…

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Starbucks Employees Vote to Form Union, the First in Company History

December 9, 2021
Business & EconomyBusinesses in COVID-19Companieseconomylabor unionsSocial IssuesStarbucks Corp.US
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Starbucks workers in three locations in Buffalo, New York, have voted on Dec. 9 to unionize, the first U.S. stores to be represented by a union in the company’s 50-year history. This comes after the majority of ballots counted by the National Labor Relations Board (NLRB) from among the 100 Starbucks workers eligible to vote were…

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