Key Developments: Starbucks Corp (SBUX.O)

SBUX.O on Nasdaq

78.85USD
10 Jul 2014
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$-0.60 (-0.76%)
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Latest Key Developments (Source: Significant Developments)

Starbucks Corp reaffirms FY 2014 EPS guidance - Conference Call
Tuesday, 19 Nov 2013 08:00am EST 

Starbucks Corp:Sees FY 2014 earnings per share (EPS) range of $2.55 to $2.65 with some offset in there a bit due to a higher tax rate that will anticipate as well as higher interest expense.FY 2014 EPS of $2.65 - Thomson Reuters I/B/E/S Estimates.  Full Article

Starbucks Corp Loses Charbucks Appeal - Reuters
Friday, 15 Nov 2013 12:43pm EST 

Reuters reported that Starbucks Corp has failed to persuade a federal appeals court to stop a small, family-owned New Hampshire roaster from selling coffee known as Charbucks. Ruling in a case that began in 2001, the second U.S. Circuit Court of Appeals said Black Bear Micro Roastery and its owner, Wolfe's Borough Coffee Inc., may keep selling Charbucks Blend, Mister Charbucks and Mr. Charbucks coffee. Circuit Judge Raymond Lohier wrote for a three-judge panel that Seattle-based Starbucks did not deserve an injunction to stop Charbucks sales, having failed to prove that consumers would be confused through a blurring of its brand. The New York-based appeals court let stand a December 2011 finding by U.S. District Judge Laura Taylor Swain in Manhattan that Charbucks was only weakly associated with the minimally similar Starbucks trademark.  Full Article

Arbitrator Says Starbucks Corp Must Pay Kraft Foods Group Inc In Grocery Fight - Reuters
Tuesday, 12 Nov 2013 04:48pm EST 

Reuters reported that Starbucks Corp said on November 12, 2013 an arbitrator has concluded that it must pay Kraft Foods Group Inc $2.23 billion in damages plus $527 million in prejudgment interest and attorneys fees after the coffee chain's early termination of the companies' grocery deal. Kraft began selling bags of Starbucks coffee in grocery stores beginning in September 1998. Starbucks prematurely ended the contract in March 2011 and gave the business to privately held Acosta Inc. Starbucks accused Kraft of multiple material breaches of contract, including mismanaging the brand. Kraft denied any breach and said that if Starbucks wanted out, it must pay Kraft fair value for the business, which brought in $500 million a year in revenue. The deal's initial term was set to expire in March 2014. The agreement was to renew automatically for successive 10-year terms unless sooner terminated per the agreement.  Full Article

Starbucks Corp Declares Cash Dividend
Wednesday, 30 Oct 2013 04:03pm EDT 

Starbucks Corp announced that the Board of Directors declared a cash dividend of $0.26 per share, payable on November 29, 2013 to shareholders of record as of November 14, 2013.  Full Article

Starbucks Corp Reaffirms FY 2014 Guidance; Reaffirms FY 2014 Global Comparable Store Sales Guidance; Issues Q1 2014 EPS Guidance In Line With Estimates; Issues Q2 2014 EPS Guidance Below Estimates
Wednesday, 30 Oct 2013 04:03pm EDT 

Starbucks Corp reaffirmed its fiscal 2014 guidance and expects revenue growth of 10% or greater, global comparable store sales growth in the mid single digits and earnings per share (EPS) in the range of $2.55 to $2.65. For the first quarter of 2014, it expects EPS in the range of $0.67 to $0.69. For the second quarter of 2014, it expects EPS in the range of $0.54 to $0.55. The Company reported revenue of $14.892 billion in fiscal 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $16.715 billion for fiscal 2014; EPS of $0.69 for the first quarter of 2014 and EPS of $0.60 for the second quarter of 2014.  Full Article

Manhattan To Get First Teavana Tea Bar Since Starbucks Corp Deal-Reuters
Wednesday, 23 Oct 2013 04:14pm EDT 

Reuters reported that Starbucks Corp which has doubled down on its tea bet, is opening its first Teavana tea bar in New York City this week. Starbucks' Manhattan Teavana store is due to open on October 24, 2013 and aspires to have a zen-like atmosphere fragrant with spices. The shop will also sell food such as chocolate brioche. Starbucks said it would decide later whether to add tea bars to existing Teavana stores. Schultz said the Company would likely add overseas locations while it expanded its U.S. business.  Full Article

Starbucks Corp Prices $750 Million Of Senior Notes
Tuesday, 3 Sep 2013 05:53pm EDT 

Starbucks Corp announced that it has priced its previously announced underwritten public offering of senior notes. The Company plans to use the net proceeds from the offering of $750 million of 3.85% Senior Notes due 2023 for general corporate purposes, which may include business expansion, payment of cash dividends on Starbucks common stock, the repurchase of common stock under the Company's ongoing share repurchase program, or financing of possible acquisitions. The offering of the notes is expected to close on September 6, 2013, subject to customary closing conditions. BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are serving as the joint book-running managers of the offering. The offering is being made under an automatic shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on September 3, 2013.  Full Article

Starbucks Corp Declares Cash Dividend
Thursday, 25 Jul 2013 04:05pm EDT 

Starbucks Corp announced that the Board of Directors declared a cash dividend of $0.21 per share, payable on August 23, 2013, to shareholders of record as of August 8, 2013.  Full Article

Starbucks Corp Issues Q4 2013 EPS Guidance Above Analysts' Outlook; Raises FY 2013 EPS Outlook; Comments On FY 2014 Revenue And Comparable Store Sales Outlook; Issues FY 2014 EPS Outlook
Thursday, 25 Jul 2013 04:05pm EDT 

Starbucks Corp announced that for the fourth quarter of 2013, it expects earnings per share in the range of $0.59 to $0.60, which includes a $0.03 gain on the fourth quarter sale of Starbucks equity in Argentina and Chile. For fiscal 2013, the Company expects earnings per share in the range of $2.22 to $2.23. For fiscal 2014, the Company expects revenue growth of approximately 10% to 13%, mid single digit comparable store sales growth and earnings per share (EPS) in the range of $2.55 to $2.65 representing growth of 18% to 22%, excluding combined gains of $0.06 per share in fiscal 2013 on the sale of Starbucks equity in Mexico, Argentina and Chile. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.57 for the fourth quarter of 2013, EPS of $2.18 for fiscal 2013; and revenue of $16.653 billion and EPS of $2.64 for fiscal 2014.  Full Article

Starbucks Corp Announces Teaming Up With Danone SA-Reuters
Tuesday, 23 Jul 2013 02:07pm EDT 

Reuters reported that Starbucks Corp and Danone SA said they will sell a co-branded yogurt through Starbucks cafes and in grocery stores as yogurt makers. Financial terms were not disclosed. Their first product will be ready-to-eat Greek yogurt parfaits, to be sold in U.S. Starbucks stores in spring 2014.  Full Article

MALAYSIA PRESS-Cuscapi wins point-of-sale contracts from Old Town, Starbucks, McDonald's

Employees Provident Fund to take part in the $2.2 bln redevelopment of former Pudu jail site-The Star

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