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Tag: starbucks

  • Your misspelled name may be coming to a cup of Starbucks near you – WTOP News

    Your misspelled name may be coming to a cup of Starbucks near you – WTOP News

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    The new Starbucks chairman and CEO Brian Niccol hopes a shot of nostalgia and a sharpie will help the coffee giant break out of their sales slump.

    A barista sets down a completed drink in a single-use cup at a Starbucks retail location, Wednesday, June 28, 2023, in Seattle.
    (AP Photo/Lindsey Wasson)

    AP Photo/Lindsey Wasson

    FILE – In a Wednesday, March 18, 2015 file photo, Holly Ainslie, a barista at a Starbucks store in Seattle writes on a cup for an iced drink.
    (AP Photo/Ted S. Warren, File)

    AP Photo/Ted S. Warren, File

    FILE - Brian Niccol, named the chairman and chief executive officer of Starbucks on Aug. 13, 2024, is shown during an interview on June 9, 2015, in New York. (AP Photo/Mark Lennihan, File)
    FILE – Brian Niccol, named the chairman and chief executive officer of Starbucks on Aug. 13, 2024, is shown during an interview on June 9, 2015, in New York.
    (AP Photo/Mark Lennihan, File)

    AP Photo/Mark Lennihan, File

    WTOP’s Jimmy Alexander spoke with customers near the Starbucks in Dupont Circle.
    (WTOP/Jimmy Alexander)

    WTOP/Jimmy Alexander

    The new Starbucks chairman and CEO Brian Niccol hopes a shot of nostalgia and a sharpie will help the coffee giant break out of their sales slump.

    Starbucks reported a disappointing end to its 2024 fiscal year. Starbucks said its revenue fell 3% to $9.1 billion in the July-September period as customer traffic slowed in the U.S. and China. For the full year, Starbucks said its revenue rose less than 1% to $36 billion.

    “We have to make it easier for our customers to get a cup of coffee,” Niccol said in his first conference call with investors since joining Starbucks in September.

    Niccol wants customers to get their orders hand-delivered by a barista in four minutes or less. He said about half the company’s transactions are now completed in four minutes or less. He wants to focus on the bottlenecks that delay the other half, from inadequate staffing during rush periods to slow ovens cooking food to Starbucks’ overly complex menu.

    Another goal for Niccol is for Starbucks to once again become the community coffeehouse it used to be. That is why ceramic mugs will once again be used by in-store customers, and baristas will have a sharpie pen in their hand so they can write a message on the customer’s order.

    “I love this. I got so many different names,” said D.C. resident Bryn. “I got Gwen all the time,”

    Bryn spoke to WTOP near the Starbucks in Dupont Circle. “I’ve gotten ‘Grin,’ ‘Gwen,’ ‘Brian’ just a few times. Or they’ll just do a nice guess. They’ll try to get as close, like a few Aarons.”

    Bryn’s friend joined the conversation and stated the many names he had found on his Starbucks cup.

    “My name is Miles, so I have gotten, obviously, the MI and the my, I’ve gotten Mikes. I’ve gotten Mike and every once in a while, I did have a barista pull out the classic high school crank of inches or kilometers,” said Miles.

    Even though Bryn rarely got a cup from Starbucks with her actual name on it, she is pleased that the sharpie is coming back. “You know what? I would love the names back. I think that’s a great choice.”

    Bryn did admit that she enjoys the stickers that are on the cups. Not only because your order is on the side along with your name spelled correctly.

    “I like the Dupont (Starbucks) when they put stickers on them that say, like random, like motivational phrases. I caught that on my birthday. They were like, you are loved, and others love you. And I’m like, love it, yeah.”

    When it comes to the stickers or sharpie, Miles told WTOP that “I don’t mind the wrong order. Give the baristas the freedom.”

    The Associated Press contributed to this report.

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    © 2024 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.

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    Ciara Wells

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  • BOSSIP’s Sober October Guide For Spookily Celebratory Non-Alcoholic Options Featuring Elysian Brewing, HOP WTR & More

    BOSSIP’s Sober October Guide For Spookily Celebratory Non-Alcoholic Options Featuring Elysian Brewing, HOP WTR & More

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    Source: NurPhoto / Getty

    As Halloween looms near, BOSSIP wants those celebrating “Sober October” to still (spookily) celebrate.

    Drinking with friends or in a celebratory fashion is always good for the soul, but sometimes dry spells are a much-needed reset. Around the world, many have started observing “Sober October” in an ode to promote a dry spell amongst friends and community. Many observers aren’t aware of just how exciting “Dry October” can be when you try options fit for the occasion.

    With this guide, you can enjoy Halloween alcohol-free and even bring some nonalcoholic options to the functions.

    BOSSIP’s Sober October Non-alcoholic Sip Guide

    Elysian Brewing’s “Odd Water”

    There is water and then there is “Odd Water” a refreshing and gluten-free option with zero calories, zero alcohol, and artsy packaging. The brand’s Citra, and Amarillo Hops Water deliver floral, and citrus notes to the taste buds.

    https://www.instagram.com/p/C9dbPpwygCq/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==

    HOP WTR Variety Pack

    HOP WTR offers a non-alcoholic variety pack with Classic, Blood Orange, Mango, and Lime. Of the three options, we recommend the mango which will end up in your normal rotation after one sip.

    The brand boasts that its beverages contain 0 calories, 0 grams of carbs, and 0 grams of sugar.

    Rockaway Soda

    ROCKAWAY reimagines soda with real fruit juice and real sugar in four original flavors Berry Hibiscus, Lemon Lemongrass, Watermelon Guava, and Pineapple Ginger. Every can is 12 oz of soda containing 7 grams of organic cane sugar and a kiss of sea salt.

    Starbucks’ “Glinda’s Pink Potion” & “Elphaba’s Cold Brew”

    Perhaps it’s easier to just stop by Starbucks for your Sober October treat and has two offerings that feel like a treat.

    Glinda’s Pink Potion features a Mango Dragonfruit Starbucks Refreshers Beverage hand-shaken with creamy coconut milk, ice, and a scoop of real, freeze-dried dragonfruit.

    Elphaba’s Cold Brew features Starbucks Cold Brew, a custom blend of beans crafted to steep long and cold, for a super-smooth cold brew coffee. The Cold Brew is sweetened with peppermint-flavored syrup, topped with silky-smooth nondairy matcha cold foam and colorful green candy sprinkles for an Oz-dusting of magic

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    Noah Williams

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  • Mount Yale Investment Advisors LLC Has $948,000 Position in Starbucks Co. (NASDAQ:SBUX)

    Mount Yale Investment Advisors LLC Has $948,000 Position in Starbucks Co. (NASDAQ:SBUX)

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    Mount Yale Investment Advisors LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 58.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,723 shares of the coffee company’s stock after selling 13,437 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Starbucks were worth $948,000 at the end of the most recent reporting period.

    A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

    Starbucks Trading Up 0.2 %

    Shares of NASDAQ SBUX opened at $97.31 on Friday. The company has a fifty day moving average price of $95.43 and a 200 day moving average price of $84.98. The firm has a market cap of $110.22 billion, a PE ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

    Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

    Starbucks Increases Dividend

    The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is 67.22%.

    Wall Street Analysts Forecast Growth

    Several research analysts have issued reports on the company. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. BMO Capital Markets upped their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

    Check Out Our Latest Report on Starbucks

    Insider Transactions at Starbucks

    In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

    Starbucks Profile

    (Free Report)

    Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

    Featured Stories

    Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXFree Report).

    Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)



    Receive News & Ratings for Starbucks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Starbucks and related companies with MarketBeat.com’s FREE daily email newsletter.

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    ABMN Staff

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  • [OOS] Sweet Deals: $10 Starbucks Giftcard For $7.50 With Promo Code SLICK25 – Doctor Of Credit

    [OOS] Sweet Deals: $10 Starbucks Giftcard For $7.50 With Promo Code SLICK25 – Doctor Of Credit

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    The Offer

    Direct link to offer

    • Sweet Deals is offering a $10 Starbucks giftcard for $7.50 when you use promo code SLICK25

    Our Verdict

    No experience with this site, but 25% off Starbucks is a good deal for personal use.

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    William Charles

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  • Starbucks begins selling ‘Wicked’ beverages and gift cards

    Starbucks begins selling ‘Wicked’ beverages and gift cards

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    Starbucks is partnering with Universal Pictures on a promotion built around “Wicked,” an origins story about the Wicked Witch of the West in “The Wizard of Oz.”

    The coffee chain is serving two cold beverages inspired by the main characters in the movie: Elphaba, played by Cynthia Erivo, and Glinda, played by Ariana Grande.

    Elphaba’s Cold Brew is made with peppermint-flavored syrup, nondairy matcha cold foam and green candy sprinkles, according to Starbucks. Glinda’s Pink Potion is a Mango Dragonfruit Starbucks Refresher topped with nondairy strawberry cold foam and topped with candy sprinkles.

    Starbucks is also selling “Wicked” gift cards and will begin selling “Wicked” merchandise, tumblers and cold cups, on Nov. 7, according to a news release.

    “Wicked” is based on the long-running Broadway musical with a score by Stephen Schwartz. It opened in 2003. A tour is coming to the Pantages Theatre in Hollywood in December and San Diego Civic Theatre in February.

    The movie version has been broken into two parts. Part One will hit movie theaters on Nov. 22, a week before Thanksgiving. Part Two is scheduled to open Nov. 21, 2025.

    The director is Jon M. Chu of “Crazy Rich Asians” fame.

    Information: starbucks.com

     

     

    Originally Published:

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    Fielding Buck

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  • Unbelievable facts

    Unbelievable facts

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    Steve Jobs made the first iPhone call publicly by prank-calling Starbucks. He humorously ordered…

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  • How To Add A Little Marijuana To Your Pumpkin Spice

    How To Add A Little Marijuana To Your Pumpkin Spice

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    It is pumpkin spice season – why not add a little something extra to make it more fun?

    Their arrival announces autumn and people flock to welcome an old friend’s return!  Over 30 million pumpkin spice latte’s are sold in the US and Canada every fall/holiday season. Starbucks concocted the beverage and spawned a whole industry including candles, cereal, soap, scents, food, and more. It is seen as a treat, but what if you make it even more special? Here is how to add a little marijuana to your pumpkin spice.

    RELATED: The Best Refreshing Cocktails

    American and Canadians spend rover $500 million on pumpkin spice products each year. The average Starbucks pumpkin spice drink costs 15.9% more than a non-pumpkin drink, so need/desire is more important than cost.  With a majority of customers having access to legal cannabis, why not have a little extra in the coffee to either chill, relax, treat some pain or just have fun. It is not complicated and it can add a whole new dimension to the fall favorite.

    Photo by Toa Heftiba via Unsplash

    The most easy way is to stop in by a local dispensary and buy some cannabis oil. The flavor isn’t as strong as that of vegetable oil, but you will taste some plant matter.  Ask for a couple of extra pumps of flavoring for the coffee and you should be all set.

    A popular brainhack is adding a dose of either butter in your morning cup. You can double the effect by adding a small dollop of canna butter instead. It will give a richer flavor and you can still savor the pumpkin flavor.  Making canna butter is easy and you can use it on toast and other foods.

    Adding a cannabis tincture (oil) to creamer will enhance the flavor and be safe on the fridge shelf for the duration. Oils can be purchased at your local dispensary and a little can go a long way.

     Cinnamon, ginger, nutmeg, cloves, allspice, all the spices in pumpkin spice, are native to Southeast Asian islands. This spice was discovered on a few island groups as well as ancient pottery shards in Indonesia and brought back to Europe by the Dutch East India Company.

    Starbucks wanted to create a new fall drink after tasting pumpkin pie and espresso. The team experimented with different pumpkin to spice ratios, but ultimately decided on a recipe without pumpkin. After consumer complaints the drink didn’t contain any pumpkin, Starbucks added a small amount of pumpkin puree to the syrup in 2015.  And had it has been a popular  drink ever sense.

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    Sarah Johns

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  • Delta: Purchase $150 Giftcard, Get $10 Starbucks Giftcard – Doctor Of Credit

    Delta: Purchase $150 Giftcard, Get $10 Starbucks Giftcard – Doctor Of Credit

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    The Offer

    Direct link to offer

    • Delta is offering a $10 Starbucks giftcard when you purchase a $150 Delta giftcard

    Our Verdict

    There is an Amex offer when buying Delta giftcards.

     

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    William Charles

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  • Marriott Points Now Transfer To Starbucks At 1,000:100 Rate (Bad) – Doctor Of Credit

    Marriott Points Now Transfer To Starbucks At 1,000:100 Rate (Bad) – Doctor Of Credit

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    It’s now possible to transfer Marriott points to Starbucks Stars at a rate of 1,000 Marriott : 100 Starbucks stars. Marriott isn’t the most valuable currency, but Starbucks is even worse when you consider this transfer rate.

    As a reminder Starbucks stars can be redeemed for the following:

    • 25 Stars: Customize your drink
    • 100 Stars: Brewed hot or iced coffee or tea, bakery item, packaged snack, and more
    • 200 Stars: Handcrafted drink (Cold Brew, lattes, and more) or hot breakfast
    • 300 Stars: Sandwich, protein box, or at-home coffee
    • 400 Stars: Select Starbucks merchandise

    I don’t think transferring makes sense unless you have a small amount of Marriott points and don’t plan to use the program in the future.

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    William Charles

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  • E Fund Management Co. Ltd. Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

    E Fund Management Co. Ltd. Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

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    E Fund Management Co. Ltd. lifted its stake in Starbucks Co. (NASDAQ:SBUXFree Report) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,347 shares of the coffee company’s stock after purchasing an additional 204 shares during the period. E Fund Management Co. Ltd.’s holdings in Starbucks were worth $883,000 at the end of the most recent reporting period.

    Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Gryphon Financial Partners LLC increased its stake in shares of Starbucks by 96.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after purchasing an additional 2,558 shares in the last quarter. TrinityPoint Wealth LLC purchased a new stake in shares of Starbucks in the 4th quarter worth $230,000. Hillsdale Investment Management Inc. increased its stake in shares of Starbucks by 5.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,269 shares of the coffee company’s stock worth $314,000 after purchasing an additional 180 shares in the last quarter. Assetmark Inc. increased its stake in shares of Starbucks by 14.5% in the 4th quarter. Assetmark Inc. now owns 95,372 shares of the coffee company’s stock worth $9,157,000 after purchasing an additional 12,089 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Starbucks by 2.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 12,697 shares of the coffee company’s stock worth $1,219,000 after buying an additional 324 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

    Starbucks Trading Down 0.3 %

    Shares of NASDAQ:SBUX opened at $96.12 on Thursday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a 50-day moving average price of $85.77 and a 200 day moving average price of $83.98. The company has a market cap of $108.92 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.38 and a beta of 0.96.

    Starbucks (NASDAQ:SBUXGet Free Report) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

    Insider Buying and Selling at Starbucks

    In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

    Wall Street Analyst Weigh In

    A number of brokerages have issued reports on SBUX. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $100.08.

    Get Our Latest Stock Report on SBUX

    Starbucks Profile

    (Free Report)

    Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

    Read More

    Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

    Receive News & Ratings for Starbucks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Starbucks and related companies with MarketBeat.com’s FREE daily email newsletter.

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    ABMN Staff

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  • Transfer Marriott Points to Starbucks Stars at 10:1 Ratio

    Transfer Marriott Points to Starbucks Stars at 10:1 Ratio

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    Transfer Marriott Points to Starbucks Stars

    Transfer Marriott Points to Starbucks Stars

    Marriott and Starbucks have added another feature to their partnership, allowing Marriott B0nvoy members to convert their points to Starbucks Stars. While this is not the best use of your points, its can still be a viable options for those members that don’t have enough points towards a hotel stay. 

    Starting today, September 18, 2024, members who link their Starbucks Rewards and Marriott Bonvoy loyalty accounts can now transfer Marriott Bonvoy points to Stars.

    For every 1,000 Marriott Bonvoy points transferred, members will receive 100 Stars. That’s enough for a brewed coffee or tea, or a bakery item. Or, if you really like Starbucks, you can transfer more points to get even more of your favorite items.

    You can already transfer Marriott Bonvoy points to Starbucks Stars here.

    In addition to the transfer option, there’s also a bonus for linking accounts. New members of Marriott Bonvoy® or Starbucks® Rewards can earn 1,000 Marriott Bonvoy points when they join and link their accounts by October 18, 2024. For additional details on the limited time offer, visit the promotion page here.

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    DDG

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  • Starbucks North America CEO Michael Conway Quits After Just 6 Months In The Position

    Starbucks North America CEO Michael Conway Quits After Just 6 Months In The Position

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    Starbucks North America CEO Michael Conway Quits After Just 6 Months In The Position

    In a surprising move, Michael Conway, Starbucks (NASDAQ:SBUX) North America CEO, has resigned after only six months in the role.

    What Happened: Conway, who took on the position in April, informed the company of his decision last week, as per a Securities and Exchange Commission filing. He will remain with the company until November 30 to assist with the leadership transition, concluding his 11-year tenure at Starbucks, Business Insider reported on Tuesday.

    Don’t Miss:

    Before his North American CEO role, Conway served as group president of international and channel development and president of Starbucks Canada. His appointment was part of a reorganization effort by former CEO Laxman Narasimhan, Bloomberg noted in March.

    Rather than appointing a new CEO for North America, Starbucks announced that Sara Trilling, the company’s North American president, will oversee retail operations across the region. Trilling has been with Starbucks for 22 years and previously managed 3,500 stores as senior vice president of its north division.

    See Also: A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.

    The company aims to enhance decision-making efficiency by streamlining its leadership structure, The Wall Street Journal reported. Conway’s departure follows other significant leadership changes, including the recent appointment of Brian Niccol, former CEO of Chipotle, as Starbucks’ new top executive.

    Operational challenges have affected Starbucks’ North American stores, with complex drink orders, rising prices, and varying foot traffic impacting staff and profitability. Niccol plans to revamp operations and focus on customer experience, he stated last week.

    Trending: The startup behind White Castle’s favorite Robot Fry Cook announces a next-generation fast food robot – Here’s how to get a share for under $5 today.

    Why It Matters: This leadership change comes amid a series of strategic shifts at Starbucks. In March, the company announced a new geographic leadership structure to support global functions, appointing Conway as North America CEO to spearhead this initiative.

    In August, the appointment of Brian Niccol as the new CEO boosted Starbucks’ valuation by over $15 billion in just one day. Niccol, known for his successful tenure at Chipotle, aims to steer Starbucks through its current challenges and enhance customer experience.

    On his second day as CEO, Niccol outlined his vision to reconnect Starbucks with its community coffeehouse roots. He emphasized the need for comfortable seating and a clear distinction between “to-go” and “for-here” services to improve the in-store experience.

    Read Next:

    Image by Şahin Sezer Dinçer from Pixabay.

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    This article Starbucks North America CEO Michael Conway Quits After Just 6 Months In The Position originally appeared on Benzinga.com

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  • Khmai Cambodian Will Reopen After Starbucks Construction Left The Restaurant Covered in Debris

    Khmai Cambodian Will Reopen After Starbucks Construction Left The Restaurant Covered in Debris

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    After being closed for over a month, Khmai Cambodian Fine Dining and its sibling restaurant Kaun Khmai will reopen on Wednesday, September 18 at its Rogers Park location near Loyola University’s campus. Reservations are available for opening day.

    One of Eater’s 15 Best New Restaurants in America in 2022, owner and chef Mona Sang closed the restaurant after construction dust at an upcoming Starbucks next door contaminated her restaurant. “Our dining room, our kitchen, and everything was covered in dust, top to bottom,” Sang says. Debris seeped into coolers and contaminated glassware. Sang says she feared that she might never reopen again, noting that a financial advisor estimated it could cost $400,000 to cover lost revenues and cleanup efforts at 6580 N. Sheridan Road.

    Sang says construction workers at the neighboring business initially “brushed me off,” and continued work despite the dirt and dust that forced her to throw away $10,000 of food. She says she’s not 100 percent sure how the dust made its way from Starbucks to the restaurant. It may have been the HVAC system or through two holes in a wall between Khmai and the coffee shop. Apparently, a demising wall, a type of structure used to partition sections of a building, was put up by the university and hid the holes from Starbucks’ general contractor. The holes weren’t patched when construction began on August 12. Sang says the contractor told her that their work would not affect her business. But on August 13, she arrived to chaos.

    “We couldn’t even breathe, so at that point, I told everyone just to finish up putting things away and put on a mask — I had to have my mom put on a mask, she was having a hard time breathing,” Sang says. “And then basically I was like, I cannot serve people. I cannot do this.”

    Sarom Sieng and daught Mona Sang at their original restaurant in Rogers Park.
    Jack X. Li/Eater Chicago

    She announced the closure in an Instagram post on August 14 and then went into more detail with a video shared on August 23. Now that she’s announced a reopening date, Sang says she hopes Starbucks will halt construction, or at least be considerate, while her restaurant is open. Loud construction noises have a habit of ruining any ambiance in the dining room.

    No one has taken accountability for the mess with the unnamed general contractor, Starbucks, and Loyola blaming each other. Sang is caught in the middle after pursuing a fresh start with the university. The restaurateur left her original Rogers Park location near the Evanston border in late 2023 due to trouble with her landlord.

    Starbucks maintains that since Loyola is the landlord it’s their responsibility to deal with Sang’s concerns. Sang has written emails and spent countless hours trying to find answers.

    “Everybody is going to be pointing fingers,” Sang says. “At this point, I don’t care whose fault it is.”

    Sang, who got her start with Lettuce Entertain You Enterprises, called the decision to close heartbreaking. The restaurants had only been open in the location since June, near the campus where Sang’s daughter attends college. Inside a bigger and more modern space, Sang unveiled two restaurants, a casual space similar to her original, called Khan Khmai. A second dining room housed a different menu, meant to showcase Cambodian cuisine in a more upscale manner. Just before the shutdown, the city had granted Khmai a liquor license and the restaurant had begun serving cocktails. Alcoholic drinks can be a huge revenue generator for restaurants that can help sustain them.

    “I put all my hard-earned money into it — all of our savings, creating everything — so that we have just to open up this place and for like, within like, you know, less than two months,” Sang says.

    Sang says Loyola was helpful during the closure, but only after she wrote a letter to Loyola CFO Wayne Magdziarz telling him that she needed assistance or her dream restaurant would permanently close. Sang says the school responded to her by offering a loan that could help her quickly reopen. The terms of the loan haven’t yet been finalized so Sang can’t say how much money she’ll borrow. She calls the money “the bare minimum” amount so she can once more serve customers. Sang will also have to dip into her personal savings to keep the restaurant afloat. Loyola did not respond to Eater’s request for comment.

    The Starbucks should open sometime this fall. Last week, a Starbucks rep provided a statement on the matter.

    “Starbucks is committed to being a good neighbor, and we strongly encourage all parties to find a resolution that works for everyone, so that our soon-to-be neighbor can reopen right away,” the emailed statement reads.

    The juxtaposition of a small family-owned restaurant being impacted by the actions of one of the world’s biggest companies isn’t lost upon Sang. She says there’s no way Starbucks would care about her business. Regardless of whose fault it was, Sang says she’s disappointed that no one from Starbucks made contact with her: “Just reaching out and asking if there’s anything we can help you with” would have been nice, Sang says, “Just to say ‘I’m sorry this happened.’”

    A round, black plate holds a small pile of fried egg rolls.

    Khmai’s famous egg rolls.
    Jack X. Li/Eater Chicago

    Beyond lost revenue, Sang is concerned with broken trust. She feels guilty about canceling reservations — diners had booked tables to celebrate special occasions. Workers left the restaurant needing income while the restaurant remained closed. Some of her mother’s favorite employees won’t be returning, and that’s a difficult conversation Sang had to have. Before closing, Khmai employed about 40 people. Sang says Khmai is hiring for all positions if any service workers have an interest.

    On the bright side, opening day will take place on Sieng’s birthday. Though a lot of records and history were lost as they fled Pol Pot’s regime for America, Sang says she believes her mother will turn 82. Cooking Cambodian food proved therapeutic for Sieng and was one of the reasons that made Khmai special. It goes beyond the stellar egg rolls that Sang made for her church before opening her restaurant. Sang also trains workers on the history behind her dishes so they can share with diners.

    Sang says when Khmai opens they’ll launch happy hour specials from 3 p.m. to 6 p.m. with the hope that will help them pay off the loan. Later this fall, Khmai will also launch weekend brunch.

    Starbucks’s general contractor and Sang’s restaurants shared the same insurance company. Upon learning that, Sang says she wasn’t surprised when the company denied her claim. Sang says friends have recommended attorneys, but right now she’s not pursuing a lawsuit.

    “It’s not about even the money,” she says. “The reason we opened up this place was because we wanted to educate Chicago about Cambodian food. We wanted to make sure that we had a place for our community.”

    Correction, Monday, September 16, 9:12 p.m.: A previous version of this story misstated that the opening day was Thursday when it is on Wednesday, September 18.

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  • BankAmeriDeals: Spend $5 with Starbucks App, Get $5 Cash Back (YMMV)

    BankAmeriDeals: Spend $5 with Starbucks App, Get $5 Cash Back (YMMV)

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    BankAmeriDeals: Spend $5 with Starbucks App, Get $5 Cash Back

    BankAmeriDeals has an offer that gets you $5 in free spend at Starbucks:

    • Earn $5 Cash Back when you enroll and make an in-app purchase of $5 or more. Limited time single use.

    To find this offer, just look for and click on the Starbucks tile on the “All Deals” page. In the offer details, click Enroll Now and sign in to your Starbucks Rewards Account to complete your enrollment. You can then just make an in-app purchase or in-app reload of $5 or more with your linked Bank of America card to get $5 Cash Back.

    Important Terms

    • Payment must be made directly with the merchant. Offer valid one time only.
    • Offer not valid on third-party websites.
    • Payment must be made on or before the offer expiration date.
    • Minimum purchase of $5 required after signing up for the Starbucks Rewards program and linking your eligible Bank of America Credit or Debit card.
    • In-App purchases only.
    • Gift card purchases are not eligible for this offer. 

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  • Bank of America Deals: Starbucks $5 Off $5 – Doctor Of Credit

    Bank of America Deals: Starbucks $5 Off $5 – Doctor Of Credit

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    The Offer

    Check your Bank of America deals for the following offer:

    • Earn $5 Cash Back when you enroll and make an in-app purchase of $5 or more.

    Here’s how to do this deal:

    1. Look for and click on the Starbucks tile towards the bottom of your “All Deals” page.
    2. In the offer details, click the Enroll Now link and sign in to your Starbucks Rewards Account to complete your enrollment.
    3. Make an in-app purchase or in-app reload of $5 or more with your linked Bank of America Debit or Credit card.

    Our Verdict

    Easy $5 freebie for those targeted.

    Hat tip to reader Jason

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    Chuck

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  • Starbucks workers in Orlando seek to unionize

    Starbucks workers in Orlando seek to unionize

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    Joining a growing movement of Starbucks workers across the United States, workers at a Starbucks location in south Orlando have officially filed a petition seeking a union election, in an effort to collectively advocate for better staffing, stable hours, and to address alleged instances of racism and anti-LGBTQ+ comments coming from store management.

    “I want to unionize because I am passionate about Starbucks. I’m passionate about connecting with customers and, like, being there for this company that used to be community-first,” Lakota Stewart, a 27-year-old barista trainer at the Starbucks on 13401 Blue Heron Beach Drive, told Orlando Weekly.

    “I also want to make sure that me and my fellow baristas are working in a safe and inclusive environment,” Stewart added, sharing that they have personally faced “snide comments” regarding their queer identity and appearance, and has heard from co-workers about upper management talking down workers of color and workers for whom English isn’t their first language.

    “I want to make sure that that the people who are creating a hostile environment are worked to be retrained, instead of just being ignored or pushed aside,” they said.

    The workers’ union petition, filed with the National Labor Relations Board on Sept. 4, states that 19 full-time and part-time workers at Stewart’s location, including baristas and shift supervisors, would be covered by the labor union Starbucks Workers United, if workers vote to unionize.

    Starbucks Workers United, a grassroots campaign of the labor union Workers United, represents more than 10,500 workers employed by the major coffee chain at more than 490 stores nationwide, including 10 other locations in Florida. All have unionized over the last three years. It started with workers at a store in Buffalo, New York, who first unionized in 2021, setting off a flurry of organizing, with young and LGBTQ+ workers at the forefront of the movement seeking improved scheduling practices, better pay and benefits, racial and gender equity, and to have a real voice on the job.

    Yomna Abdellatif, a 23-year-old barista of about 3.5 years who works at the same Orlando-based Starbucks, located in the city’s bustling tourism district, said she’s been following the Starbucks organizing movement since its inception, but has been inspired by coverage of other Starbucks workers in Tampa, Clearwater and Oviedo who have similarly unionized.

    “Every time I read an article, even the ones locally, with the location in Oviedo and recently with Tampa and Clearwater, those stories really are empowering,” Abdellatif told Orlando Weekly. “Just listening to them and hearing that these partners had the bravery to stand up for themselves really inspired me, personally.”

    click to enlarge Courtney Thompson (left) stands on the picket line with fellow Starbucks workers at Central Florida's only unionized Starbucks on March 22, 2023. - Photo by McKenna Schueler/Orlando Weekly

    Photo by McKenna Schueler/Orlando Weekly

    Courtney Thompson (left) stands on the picket line with fellow Starbucks workers at Central Florida’s only unionized Starbucks on March 22, 2023.

    Abdellatif, like Stewart, felt motivated to organize workers at her location in part due to staffing issues, but also instances of discrimination from management that haven’t been addressed, despite voiced concerns. “We went forward to higher-ups to speak about our grievances, whether it’s from like the staffing or the racism,” she said. “Our cases are always shut down, so we figured it’s time for a union that will finally have our voices heard.”

    Both Stewart and Abdellatif also claimed managers at their location are engaging in “union-busting tactics,” such as spreading false information about unions. When we asked Starbucks about this, Orlando Weekly was told “our hope is the union would respect our right to share information and our perspective just as we respect their right to do so.”

    Stewart said they’ve had a broken dishwasher at their store for two years, but it was only after they began organizing that higher-ups went about trying to get the machine fixed (a common tactic used by companies as a last-ditch effort to convince workers they don’t need a union to address workplace concerns).

    The company initially launched an aggressive counter-campaign to workers’ organizing efforts back when the organizing movement across the country first began, racking up dozens of unfair labor practice charges that alleged the company illegally fired or otherwise retaliated against workers for their union activity.

    In February, the company finally waved a white flag of sorts, following bad PR and sinking stock values, and the company has since been willing to meet Starbucks union reps and workers at the bargaining table to hammer out collective bargaining agreements, informally known as union contracts.

    A company spokesperson told Orlando Weekly over email they’re making progress in negotiations, but recycled their usual statement when asked about the Orlando location, sharing they prefer to have a “direct relationship” with their employees, whom they call partners. Such language (“direct relationship”) is commonly used by employers opposed to union drives.

    “At Starbucks we believe that our direct relationship as partners is core to the experiences we create in our stores, and we respect our partners’  rights to have a choice on the topic of unions,” a company spokesperson shared in a statement. “We are committed to delivering on our promise to offer a bridge to a better future to all Starbucks partners.”

    When pressed for a response specifically to the allegations of discrimination and racism at the Orlando store, a spokesperson for the multibillion-dollar Seattle-based corporation, Jay Go Guasch, said: “We expect all partners to treat one another and our customers with dignity and respect, and our policies strictly prohibit any discriminatory, threatening or retaliatory behavior directed toward others.”

    Filing a petition for a union election requires gathering signed cards of support for unionization from at least 30 percent of employees, although union organizers typically recommend gathering cards from at least double that prior to filing a petition — mostly as a way to prepare for the potential impact of employer intimidation or retaliation, a common occurrence during union drives.

    One worker at a Starbucks in Winter Park on Park Avenue alleged back in 2022 that they and their co-workers were themselves facing threatening messages from Starbucks over their union activity, and workers at the store ultimately voted against unionization.

    Organizing in Southern states like Florida can be a more daunting endeavor, since Southern states generally have lower rates of union membership and labor unions that have fewer resources and power, in part due to anti-union laws like right-to-work, which financially strap unions and diminish workers’ ability to collectively advocate for better wages and working conditions.

    In Florida, just 6.1 percent of workers have union representation, yet public support for unions nationally has steadily been growing over the past decade. Across the state, workers at nine other Starbucks locations have already voted to unionize in recent years, including locations in Tallahassee, Jacksonville, Oviedo, Miami, and more recently in Tampa and Clearwater.

    At the Orlando store, workers can soon expect the National Labor Relations Board to set a date for their union election, provided there are no objections from Starbucks.

    Then, workers will have the chance to democratically vote whether they want to join the union. Abdellatif said a majority of workers at her location — 90 percent — are in support of forming a union. The rest, she said, “are the ones being pressured by leadership.”

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  • What’s open and closed on Labor Day 2024? See hours for major stores, pharmacies and more.

    What’s open and closed on Labor Day 2024? See hours for major stores, pharmacies and more.

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    Labor Day may be a national holiday, but it’s also a big day for family get-togethers and backyard grilling with friends, often requiring a quick dash to pick up extra hamburger buns or drinks. 

    The good news is that plenty of retailers will be keeping their doors open on September 2. Others will remain closed on Labor Day — a national holiday in the U.S. since 1894 — while some stores might have shorter hours. Here’s what to know about what’s open and closed on Labor Day 2024. 

    Is Costco open on Labor Day?

    Costco closes its doors for seven U.S. holidays each year, and Labor Day is among them. That means that you’re out of luck Monday if you hope to make a quick run to the discount chain. 

    Is Walmart open on Labor Day?

    Walmart told CBS MoneyWatch that its locations will be open during their regular hours on Labor Day. Walmart locations are typically open from 6 a.m. until 11 p.m.

    Which grocery stores are open on Labor Day?

    Many grocery stores will be open on Labor Day, although some ask that customers check with their local stores to make sure they will be operating with normal hours. Here are some grocery chains that will be operating on September 2:

    • Albertsons: Albertsons Companies stores will be open on Labor Day, including Safeway, Albertsons, ACME, Shaw’s, Vons and Tom Thumb. However, the company’s pharmacies may be closed or have adjusted hours.
    • Food Lion: The chain’s 1,100 locations will be operating during their normal hours, although these vary by location. Most Food Lion locations are open from 6 a.m. until 11 p.m.
    • Publix: Its more than 1,400 locations will be open during their regular hours, but its pharmacies will be closed. Most Publix stores are open from 7 a.m. until 10 p.m.

    Which pharmacies are open on Labor Day?

    Some pharmacies will be closed on Labor Day, so it’s best to check ahead for exact hours and operations. 

    • CVS Pharmacy locations will be open on Labor Day, although some stores may have reduced hours. The company recommends that customers call their local store before visiting or check hours at CVS.com.
    • Publix pharmacies will be closed on September 2.
    • Rite Aid said most of its stores will be open for Labor Day, though with varying hours of operation. Customers should check ahead for hours.
    • Walgreens stores will operate during their regular hours on Labor Day, but most of its pharmacies will be closed except for its 24-hour locations and select other pharmacies. Customers should check the Walgreens’ store locator on its website to check local hours. 

    Is Dunkin’ open on Labor Day? 

    Dunkin’ told CBS MoneyWatch that many of its locations will be open on Monday, September 2. 

    “As always, store hours can vary so we encourage guests to check their go-to location’s hours in the Dunkin’ app or by calling ahead before showing up,” a spokesperson said. 

    Is Starbucks open on Labor Day? 

    Starbucks said its store hours will vary by location, and stores may occasionally adjust their hours based on business and customer needs. 

    “We recommend customers look for specific store hours using the Starbucks® app or by visiting our website store locator: Starbucks.com/store-locator,” a spokesperson said. 

    Is McDonald’s open on Labor Day?

    The fast-food giant said most McDonald’s in the U.S. are open on holidays, although hours may vary. It recommends that customers use its store locator tool to confirm hours before heading out for a meal.

    Is Chick-fil-A open on Labor Day?

    Chick-fil-A, which closes its locations on Sundays, said its restaurants will be open on Monday, September 2. 

    However, the company told CBS MoneyWatch that hours may vary by location, and it recommends using its app or visiting our website and clicking the “Find a Restaurant” link in the top left corner to find local hours.

    Is Home Depot open on Labor Day?

    Yes, the home-improvement chains ays its Home Depot stores will be open on Labor Day with no adjustment to store hours. However, it recommends that customers check with their local stores ahead of time just in case. Home Depot’s hours are typically 6 a.m. until 10 p.m.

    Is there mail delivery on Labor Day?

    No, there is no regular residential or business U.S. Postal Service delivery on Labor Day, as it is a federal holiday observed by the postal service. 

    Even so, the USPS said its Priority Mail Express, which is delivered 365 days a year, will be delivered on September 2. 

    Are banks open on Labor Day? 

    Because Labor Day is a holiday for the Federal Reserve system, banks will be closed for the day. However, ATMs will remain available and open for transactions. 

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  • Starbucks’ fall pumpkin spice latte is launching earlier than ever in 2024

    Starbucks’ fall pumpkin spice latte is launching earlier than ever in 2024

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    It’s still the height of summer, but Starbucks seems to want it to be fall already. Its 2024 fall menu, including its pumpkin spice latte, will debut earlier than ever this year. 

    This year’s early pumpkin spice latte launch comes as some Americans appear to be losing their taste for the Starbucks brand, with the company suffering from a slowdown in store traffic and dip in sales. Starbucks earlier this month tapped former Chipotle CEO Brian Niccol to replace ousted Starbucks CEO Laxman Narasimhan, amid a growing list of challenges facing the coffee giant.

    The early fall menu launch could be an effort to capture additional sales and get a head start on regaining consumers’ interest in the brand.

    When is the pumpkin spice latte coming back to Starbucks?

    Starbucks’ fall menu will debut on Thursday, Aug. 22, two days earlier than it debuted last year, which marked the drink’s 20th season

    On Wednesday, Starbucks said its fall lineup marks the “unofficial start of the season,” despite fall not officially commencing for another full month, on Sept. 22.

    The earlier rollout is also part of a polarizing trend among some retailers to roll out seasonal goods at ever-earlier dates as they seek to pocket consumers’ dollars. For instance, stores that stock Halloween-themed goods during the summer months, some as early as June, has been dubbed “summerween” on social media platforms like TikTok.

    While some consumers are put off by what they see as retailers’ overeagerness to introduce holiday merchandise, others like getting a head start on their holiday shopping.

    And Starbucks is hardly the only company to introduce fall merchandise over the summer. Halloween decor will hit Target store shelves in August, the discount retailer said, adding that spikes in searches for Halloween-themed goods start spiking as early as July. 

    What’s on Starbucks’ 2024 fall menu?

    The pumpkin spice latte will return to Starbucks locations along with other menu offerings, including a new iced apple crisp nondairy cream chai beverage, the coffee chain said.

    The pumpkin spice latte, which Starbucks debuted in 2003, remains its most popular seasonal beverage, Starbucks said in announcing its 2024 return. It is made with real pumpkin, espresso, steamed milk, cinnamon, nutmeg and clove. The best-selling beverage comes in a few varieties: Hot, iced or blended. 

    Starbucks’ fall menu will also include: 

    • Its pumpkin cream cold brew
    • An iced pumpkin cream chai
    • An apple crisp oatmilk macchiato 
    • An iced apple crisp oatmilk shaken espresso
    • A raccoon cake pop
    • A pumpkin cream cheese muffin

    In addition, Starbucks Reserve locations in Chicago, New York City and Seattle will debut their fall menu, which includes seasonal cocktails.  

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  • Swedbank AB Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

    Swedbank AB Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

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    Swedbank AB reduced its position in Starbucks Co. (NASDAQ:SBUXFree Report) by 3.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 549,996 shares of the coffee company’s stock after selling 20,215 shares during the period. Swedbank AB’s holdings in Starbucks were worth $42,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

    A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Starbucks by 1.4% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 46,155 shares of the coffee company’s stock worth $3,593,000 after buying an additional 635 shares during the last quarter. ERn Financial LLC boosted its stake in shares of Starbucks by 7.1% in the 2nd quarter. ERn Financial LLC now owns 4,836 shares of the coffee company’s stock worth $376,000 after buying an additional 322 shares during the last quarter. Westside Investment Management Inc. lifted its position in Starbucks by 3.3% during the second quarter. Westside Investment Management Inc. now owns 13,220 shares of the coffee company’s stock valued at $1,039,000 after purchasing an additional 422 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in Starbucks by 1.8% during the second quarter. Brown Lisle Cummings Inc. now owns 8,302 shares of the coffee company’s stock valued at $646,000 after purchasing an additional 150 shares in the last quarter. Finally, Manchester Financial Inc. lifted its position in Starbucks by 5.3% during the second quarter. Manchester Financial Inc. now owns 27,482 shares of the coffee company’s stock valued at $2,139,000 after purchasing an additional 1,392 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

    Wall Street Analysts Forecast Growth

    Several equities analysts have recently commented on the company. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Friday, May 3rd. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.79.

    Check Out Our Latest Stock Report on SBUX

    Insider Activity

    In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold 10,540 shares of company stock worth $879,291 in the last ninety days. Company insiders own 1.98% of the company’s stock.

    Starbucks Stock Performance

    NASDAQ SBUX opened at $94.81 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market capitalization of $107.44 billion, a P/E ratio of 26.12, a PEG ratio of 1.80 and a beta of 0.94. The stock has a 50-day simple moving average of $78.23 and a two-hundred day simple moving average of $84.00.

    Starbucks (NASDAQ:SBUXGet Free Report) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm earned $1.00 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

    Starbucks Announces Dividend

    The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

    About Starbucks

    (Free Report)

    Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

    Read More

    Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXFree Report).

    Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

    Receive News & Ratings for Starbucks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Starbucks and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Starbucks Now On GrubHub, 25% Off With Promo Code SBUX25 – Doctor Of Credit

    Starbucks Now On GrubHub, 25% Off With Promo Code SBUX25 – Doctor Of Credit

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    Starbucks is now on GrubHub and you can get 25% off with promo code SBUX25. Code is valid until 8/11. Can find more GrubHub promo codes here. Amazon has also added GrubHub+ as a permanent benefit.

    Hat tip to Dans Deals

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    William Charles

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