Key Developments: Starbucks Corp (SBUX.O)
66.03USD
17 Jun 2013
$0.43 (+0.66%)
$65.60
$66.19
$66.56
$65.71
4,057,900
4,471,031
$66.67
$43.04
Latest Key Developments (Source: Significant Developments)
Starbucks Corp And Tata Global Beverages Ltd's Tata Starbucks Adds Three More Outlets-Business Line
Business Line reported that continuing with expansion in India, Tata Starbucks said it has added three more outlets of the US-based coffee chain in Delhi and Mumbai. The firm, a 50:50 joint venture between Starbucks Coffee Company and Tata Global Beverages Co, said with the opening of the new outlets, total store count has gone up to 15 in India. The three stores, two in Delhi and one in Mumbai, will have seating capacity of less than 75 persons each. Full Article
Starbucks Corp Reaffirms FY 2013 Guidance; Reaffirms Comparable Store Sales -Conference Call
Starbucks Corp announced that for fiscal 2013, it expects revenue growth greater than 10% and earnings per share (EPS) target to a range of $2.12 - $2.18 and Mid single digit global comparable store sales growth. The Company reported revenue of $13.30 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $14.89 billion and EPS of $2.18 for fiscal 2013. Full Article
Starbucks Corp Reaffirms FY 2013 Revenue Guidance; Raises FY 2013 EPS Guidance; Reaffirms FY 2013 Comparable Store Sales Guidance; Declares Cash Dividend
Starbucks Corp reaffirmed it fiscal 2013 guidance and expects revenue growth of approximately 10% - 13% and Mid single digit global comparable store sales growth. The Company has raised its earnings per share target to a range of $2.12 - $2.18. The Company reported revenue of $13.30 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $14.89 billion and EPS of $2.16 for fiscal 2013. The Company also announced that the Board of Directors declared a cash dividend of $0.21 per share, payable on May 24, 2013, to shareholders of record as of May 9, 2013. Full Article
Tata Coffee Ltd, Starbucks Corp Open Roasting Plant In Karnataka-The Economic Times
The Economic Times reported that US-based Starbucks Coffee Company and Indian partner Tata Coffee Ltd inaugurated a roasting and packaging plant in Karnataka that will cater to the domestic as well as select overseas markets in future. In a key partnership between Starbucks Coffee Company and Tata Coffee Ltd, the two companies inaugurated a roasting and packaging plant in Kushalnagar in Coorg, Karnataka, the two firms said in a joint statement. This facility will enable roasting and packaging of green coffee beans for Starbucks stores in India and select markets around the globe in future, it added. The facility is spread across 8,258 sq ft and has an installed production capacity of 375 MT. The plant has three major sections -- green coffee storage and handling, roasting, and packing and dispatch. Full Article
Starbucks Corp Reaffirms FY 2013 Guidance; Comments On FY 2013 Comparable Store Sales Guidance
Starbucks Corp announced that for fiscal 2013, it expects revenue growth of approximately 10% - 13%, driven by mid single digit comparable store sales growth and earnings per share of $2.06 to $2.15. Full Article
Starbucks Corp Declares Cash Dividend
Starbucks Corp announced that the Board of Directors declared a cash dividend of $0.21 per share, payable on February 22, 2013, to shareholders of record as of February 7, 2013. Full Article
Starbucks Corp Announces Long-term Relationship With Hong Kong Maxim's Group Expanded To Include Operations In Vietnam
Starbucks Corp announced the expansion of long-term relationship with Hong Kong Maxim's Group to operate Starbucks stores in Vietnam. Scheduled to open the first Starbucks store in Ho Chi Minh City in early February 2013, Starbucks reiterated that Asia continues to be a growth driver for the Company and is proud to be partnering with Hong Kong Maxim's Group to enter Vietnam this year. Starbucks has granted Hong Kong Maxim's Group subsidiary, Coffee Concepts (Vietnam) Limited, the license agreement for the Vietnam market. Full Article
Starbucks Corp Reiterates FY 2013 Guidance-Conference Call
Starbucks Corp reiterated fiscal 2013 guidance that it has shared in fourth quarter 2012 earnings call back in November. Revenue, comp growth, operating margin, and EPS are all within stated long-term ranges. Full Article
Starbucks Corp Announces Additional Stock Repurchase Authorization
Starbucks Corp announced that its Board of Directors has authorized the repurchase of up to 25 million shares of the Company`s common stock. This authorization is in addition to the 12.1 million shares that remained available at fiscal year-end 2012 for repurchase under an existing authorization. Full Article
Starbucks Corp Announces Agreement To Acquire Teavana Holdings Inc
Starbucks Corp announced that it has agreed to acquire Teavana Holdings, Inc. in an all-cash acquisition . Teavana is a specialty retailer offering more than 100 varieties of premium loose-leaf teas, authentic artisanal teawares and other tea-related merchandise. Starbucks has entered into a merger agreement with Teavana to acquire Teavana for an aggregate acquisition price of approximately $620 million in cash and expects the acquisition to be accretive to earnings by approximately $0.01 per share in fiscal year 2013, based off of the previously announced earnings targets. Teavana stockholders of record will receive $15.50 per share in cash in the merger which will result in Teavana becoming a wholly-owned subsidiary of Starbucks. Stockholders of Teavana holding approximately 70% of the outstanding shares of common stock have approved the merger agreement by written consent, and the closing is expected to occur by year end, following receipt of regulatory clearances. Full Article
Starbucks veteran Michelle Gass leaving for Kohl's
- Starbucks Corp executive Michelle Gass, who was instrumental in the world's biggest coffee chain's post-recession U.S. turnaround, is leaving after more than 16 years to become chief customer officer at retailer Kohl's Corp .
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