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The hit to bonuses comes after the company altered its compensation plan for senior executives in fiscal 2023. The company now bases 70% of bonus awards on financial performance, compared to 50% ...
For the full fiscal year, Starbucks' revenue rose 11.6% to $35.9 billion. ... Starbucks expects same-store sales growth between 4% and 6% in China in the coming fiscal year, up from 2% in the 2023 ...
Starbucks on Thursday presented the latest stage in its plan to drive growth for the company, ... 2023 at 7:26 AM. ... but the rest of its forecast for the next fiscal year meets those targets.
Starbucks said its same-store sales — or sales at stores open at least a year — dropped 4% in its fiscal second quarter. Wall Street had expected a 1% increase, according to analysts polled by ...
During the 2023-2024 fiscal year, 7 new stores opened in Westhoughton, Dewsbury, Bournemouth, Ripon, Wakefield, Tower Bridge and Wirral. Cobra Coffee, a Southern Co-op subsidiary, is one of the largest Starbucks franchisees in the UK and grew from 63 to 71 stores in the 2023-2024 fiscal year under license from Starbucks across the south of England.
On August 13, 2024, Niccol was named the incoming chairman and chief executive officer of Starbucks. [34] [35] [36] Niccol replaced Mellody Hobson as the chairman and Laxman Narasimhan as the CEO. [2] On the day of the announcement, shares of Starbucks gained 24.5%. [36] Niccol received a starting salary of $1.6 million and a $10 million ...
Starbucks CEO Brian Niccol said the coffee giant will cut 30% of its menu offerings this year. In an earnings call, Niccol told investors the cuts are part of Starbucks' plan to streamline service.
The changes come after the company said earlier this year that it had raised prices by about 5% over a 12-month period. Interim CEO Howard Schultz said in the fiscal-fourth quarter earnings call ...