December 6, 2012 |
Major expansion plans brewing at Starbucks Coffee Co. will stretch the Seattle java giant by adding about 2,400 outlets in two years to give it more than 20,000 stores on six continents. The company also plans to renovate thousands of locations in the region, executives said at the company's biennial investor conference Wednesday. And Starbucks said it is on track to double its system of delivering packaged goods to grocery stores and other vendors to create a revenue stream that eventually would rival the size and profitability of its café locations.
November 29, 2012 |
Some coffee aficionados have a difficult decision to make: Spend $7 on a full lunch or on a single cup of Starbucks coffee? The brew in question: the Seattle giant's new Costa Rica Finca Palmilera, its most expensive offering ever and also one of its rarest. The coffee is part of the company's Reserve line and costs $7 for a grande - a 16-ounce cup. An 8-ounce package of beans costs $40. The uber-premium beans and brew are available only in 46 Starbucks stores in Portland and Seattle, a licensed store in Idaho and Starbucks' Roy Street Coffee & Tea offshoot in Washington.
November 14, 2012 |
Starbucks Coffee Co. will buy Teavana Holdings Inc. for $620 million in cash as the coffee giant powers deeper into the tea market. The $15.50-a-share price is lower than the $17 a share at which Teavana was priced for its public debut last July. The stock opened at $28.95 a share but has since slumped heavily to close at $10.13 a share Tuesday. But after Starbucks' afternoon announcement Wednesday, Teavana shares surged as much as 59% to $16.06 a share. Starbucks said it plans to expand Teavana's existing 300 mall-based stores while adding a “high-profile neighborhood store concept.” The tea company was attractive, Starbucks executives said, because of its industry expertise and global sourcing network.
August 31, 2012 |
Rather than dump its coffee grounds and unsold baked goods into landfills or incinerators, Starbucks is trying to be more productive with its food waste - by transforming it into plastic and laundry detergent. At a biorefinery set up by the City University of Hong Kong, scientists are testing some of the 4,500 tons of stale pastries and coffee bean bits produced annually by Starbucks Hong Kong, according to the American Chemical Society . The organic matter is blended with a mixture of fungi, where enzymes break down carbohydrates in the food into simple sugars.
June 21, 2012 |
Starbucks Coffee Co. will continue expanding beyond its coffee-serving cafes with its first stand-alone tea shop. The store, which will operate under the company's Tazo brand, is scheduled to open in the fall in a Seattle shopping center across town from Starbucks' headquarters. It will feature a staff-run blending bar where customers can mix their own tea from more than 80 loose-leaf choices. They also will be able to choose among iced teas, tea lattes and full-leaf tea sachets.
June 5, 2012 |
In hopes of upgrading its pastry offerings, Starbucks Coffee Co. plans to spend $100 million to acquire the San Francisco artisan bakery Bay Bread and its La Boulange brand. The company's pastries are made using fresh and locally sourced ingredients favored by its French founder, Pascal Rigo. His operation runs 19 La Boulange stores in the Bay Area that sell croissants, pastries, cookies, breads and more. Starbucks said Monday that it was acquiescing to customer demand for "more wholesome and delicious food options" by rolling out products created by Rigo at U.S. Starbucks stores, starting in the San Francisco area in early 2013.