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Starbucks

Financing

Starbucks still has faith in its China business

Restrictions and a COVID surge in December hammered sales in the Seattle-based coffee chain's second-biggest market. But Starbucks still has big plans for the country.

Financing

Customers keep visiting Starbucks and spending more money

The Seattle-based coffee chain’s average weekly sales hit a record last quarter as people came in more often and spent more money when they did.

The coffee giant’s “CEO elect,” who takes over the full-time job in April, received a sign-on bonus and stock awards. Howard Schultz, the interim CEO, was paid $1.

The staff of a store in Northern California has voted to be represented by the same union group that's been organizing Starbucks.

The coffee giant is expanding its deal with DoorDash nationwide and expects delivery to be available in all 50 states by March.

Noting that in-store workers don’t have the privilege to work from home, Interim CEO Howard Schultz said employees need to come into the office three days a week.

Reality Check: Amid the harumphing by both sides, the actual points of disagreement between labor and management are starting to become clear.

Starbucks Odyssey, a major expansion of the company’s Rewards program into the metaverse, enables customers to collect NFTs and points through interactive activities.

The Bottom Line: As customers returned to Starbucks, revenue from unspent gift cards did, too, providing the coffee giant with a weird and profitable source of funds.

The group organizing Starbucks says it is working with the staffs of two Peet's units to hold elections.

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