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Starbucks Corp (SBUX.O)

SBUX.O on Nasdaq

18 Jan 2017
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Latest Key Developments (Source: Significant Developments)

Starbucks says to hike wages for Partners, Store Managers in October
Monday, 11 Jul 2016 09:05am EDT 

Starbucks : Says This October, All Partners And Store Managers In U.S. Company Operated stores will receive an increase in base pay of 5 percent or greater . Starbucks says will be adding future annual enhancement to its bean stock program to recognize contributions of tenured partners . Changes will result in compensation increases between 5 percent and 15 percent for all u.s. Company operated store partners in good standing . Starbucks says range of base pay increase for partners and store managers will be determined by geographic and market factors . Will be doubling annual bean stock award for u.s. Company operated hourly store partners that reach 2 yrs of continuous service with company Source (http://bit.ly/29JkQPJ) Further company coverage: [SBUX.O] ((Bengaluru Newsroom; +1 646 223 8780;)).  Full Article

U.S. CPSC says Teavana agreed to pay a $3.75 mln civil penalty to federal government
Wednesday, 1 Jun 2016 02:30pm EDT 

U.S. Consumer Product Safety Commission : Teavana has agreed to pay a $3.75 million civil penalty to federal government . Penalty settles charges that Teavana knowingly failed to report that tumblers contained defect that could create product hazard .Teavana agreed to comply with and maintain compliance program of parent co that is designed to ensure compliance with consumer product safety act.  Full Article

Starbucks Corp - Apple Inc, McDonald's, Google and IKEA to face EU lawmakers over tax deals - Reuters News
Monday, 14 Mar 2016 08:20am EDT 

Starbucks Corp:Apple, Google, McDonald's and IKEA will be asked about their European tax deals on Wednesday as EU lawmakers ratchet up the pressure on multinationals to pay more tax on their profits locally - RTRS.The hearing, organised by the European Parliament's tax committee, follows a similar event in November last year when Anheuser-Busch InBev, HSBC, Google and eight other companies were quizzed on the same subject.While the committee has no power to order changes, the hearing reflects the political concerns over multinationals avoiding local tax liabilities.The European Commission is also investigating several cases to see if they breach the bloc's state aid rules which prohibit EU countries from giving some companies an unfair advantage by making special deals on tax.Starbucks declined to take part because it has challenged a European Commission order to the Dutch authorities to recover up to 30 million euros in back taxes, the European Parliament said in a statement.Fiat Chrysler Automobiles, which is also appealing against an EU finding against its tax deal with Luxembourg, also turned down the invitation.The head of Inter IKEA Group, Soren Hansen, will argue the Swedish furniture retailer's case.Inter IKEA Group owns the intellectual property rights under which its retailers operate.All the companies have previously said they comply with EU tax rules.  Full Article

Starbucks Corp - Voluntary Recall of Sausage, Egg and Cheddar Breakfast Sandwiches in TX, OK, and AR - ENPNWS
Wednesday, 9 Mar 2016 07:11am EST 

Starbucks Corp:As soon Starbucks was made aware of a potential supplier issue with a specific lot of Sausage, Egg and Cheddar Breakfast Sandwiches, we removed the impacted product from the select 250 Texas, Oklahoma and Arkansas area stores that carried it. - ENPNWS.The scope of this issue is limited to these select stores and the specific lot and does not impact other breakfast sandwiches. This recall was issued out of an abundance of caution.One of our suppliers recalled a specific lot of the Sausage, Egg and Cheddar Breakfast Sandwiches because they detected listeria monocytogenes on a food contact surface in their facility.The product itself has not tested positive for listeria monocytogenes. No other products are affected because of this issue.Offering high quality products to our customers is a top priority for Starbucks.  Full Article

Starbucks prices $500 million of senior notes
Monday, 1 Feb 2016 04:05pm EST 

Starbucks Corp:Says it has priced an underwritten public offering of senior notes.Plans to use the net proceeds from the offering of $500 million of 2.100% Senior Notes due 2021 for general corporate purposes, which may include repurchases of Starbucks.  Full Article

Starbucks Corp - EU antitrust chief rejects U.S. criticism of Apple, Starbucks tax cases - Reuters
Monday, 1 Feb 2016 12:34am EST 

Starbucks Corp:Europe's antitrust chief signalled on Monday her determination to go after Apple, Starbucks and McDonald's over their sweetheart tax deals in the bloc, dismissing U.S. criticism of her crackdown on the companies - RTRS.European Competition Commissioner Margrethe Vestager's comments come three days after senior U.S. Treasury official Robert Stack met her team in the latest lobbying effort against her clampdown on tax deals involving U.S. as well as EU companies - RTRS.Vestager, who was not at the meeting, indicated she had not been swayed by Stack's arguments, similar to those made to a Senate committee last December - RTRS."It is the same argument as we have heard before," she told reporters on the sidelines of a conference organised by the Global Competition Law Centre. - RTRS."Just as it is an obvious right for U.S. tax authorities to tax revenues when they are repatriated, it is also for European tax authorities to tax money that is made in the member states." - RTRS.All the companies have denied wrongdoing. While Starbucks was told to pay up to 30 million euros in back taxes to the Netherlands in October last year, Apple could end up with a bigger bill to the Irish. A decision is likely to come in the spring - RTRS.Vestager also said it was too early to decide whether to investigate Google's 130 million pound settlement with British tax authorities. The Scottish National Party has formally complained about it to the European Commission - RTRS.  Full Article

Starbucks Corp Pulls Turkey Sandwiches Due To E. Coli Scare - The Huffington Post
Wednesday, 2 Dec 2015 10:39am EST 

Starbucks Corp:Starbucks pulled holiday turkey sandwiches from West Coast stores last week due to potential contamination from celery recalled over a risk of E. coli. - HUFFPO.At least 19 people were sickened after eating Costco chicken salad that contained the same celery products, which hail from California-based Taylor Farms Pacific, Inc. - HUFFPO.Starbucks removed sandwiches from 1,347 stores in California, Oregon and Nevada. No illnesses associated with Starbucks' sandwiches have been reported thus far, according to Bloomberg - HUFFPO.  Full Article

Starbucks Corp gives Q1 2016 EPS guidance below analysts' estimates; gives FY 2016 EPS guidance in line with analysts' estimates
Thursday, 29 Oct 2015 04:03pm EDT 

Starbucks Corp:Sees Q1 2016 GAAP EPS in the range of $0.43 to $0.44.Sees Q1 2016 Non-GAAP EPS in the range of $0.44 to $0.45.Sees FY 2016 GAAP EPS in the range of $1.84 to $1.86.Sees FY 2016 Non-GAAP EPS in the range of $1.87 to $1.89.Q1 2016 EPS of $0.47 - Thomson Reuters I/B/E/S.FY 2016 EPS of $1.88 - Thomson Reuters I/B/E/S.  Full Article

Starbucks Corp's board approves 25% Increase in the Quarterly Dividend
Thursday, 29 Oct 2015 04:02pm EDT 

Starbucks Corp:Board Approves a 25% Increase in the Quarterly Dividend to $0.20 Per Share.Declared a cash dividend of $0.20 per share, an increase of 25%, payable on November 27, 2015 to shareholders of record as of November 12, 2015.  Full Article

Starbucks Corp - Starbucks and Fiat dragged along in fair tax tide - Reuters
Wednesday, 21 Oct 2015 05:55am EDT 

Starbucks Corp:A ruling that Starbucks and Fiat received illegal state aid will lead to grumbling. There may be some more legal action - RTRS.But the European Commission, which has called time on perks once enjoyed by both companies, is riding a powerful global tide in favour of fair taxes. Corporate tax havens are gradually, very gradually, heading for extinction - RTRS.Commissioner Margrethe Vestager is moving delicately - RTRS.Her ruling that two cases of especially favourable tax treatment for coffee shop Starbucks in the Netherlands and carmaker Fiat’s finance operation in Luxembourg amounted to prohibited state aid came with almost token fines of 20 to 30 million euros - RTRS.The idea is more to shape the future than to condemn the past - RTRS.However, the commission’s attack is also part of a global trend. Personal tax evasion was once widely tolerated. It is increasingly considered intolerable in developed economies - RTRS.International cooperation and some bullying have made many former tax havens unsafe. Corporations are the next target - RTRS.The European Commission said on Oct. 21 that tax advantages received by Fiat in Luxembourg and Starbucks in the Netherlands were illegal under state aid rules. The commission ordered the countries to recover 20 to 30 mln euros from each company in unpaid taxes - RTRS.  Full Article


EU court ruling on Spanish tax breaks eyed for clues on Starbucks, Apple appeals

BRUSSELS Europe's top court will decide next week on Spanish tax breaks for foreign takeovers in a ruling that may give clues as to how judges will deal with more complex tax cases involving Starbucks and Apple .