Starbucks’ interim boss sells $341K in stock after surprise CEO shuffle
Starbucks’ interim CEO cashed out more than $341,000 in Chipotle stock following news that the company had named Chipotle CEO Brian Niccol to replace embattled President Lakshman Narasimhan, according to securities filings. Rachel Ruggeri, the Seattle-based coffee chain’s chief financial officer and interim CEO until Nicol officially takes over on Sept. 9, sold 3,750 shares, […]
Starbucks hires Chipotle boss Brian Niccol as next CEO
Starbucks reportedly announced on Tuesday that it was replacing current CEO Lakshman Narasimhan with Chipotle leader Brian Niccol after months of sluggish sales. Niccol has been widely praised for turning around Chipotle’s business, helping to drive up the company’s stock price by more than 50 percent over the past year, the company said. Niccol will […]
Microsoft reveals cyberattack triggered Azure outage that stalled emails, crashed Starbucks app
Tuesday’s global outage of Microsoft Azure, which affected a wide range of consumer services from reports of Outlook email delays to problems ordering on Starbucks’ mobile app, was caused by a distributed denial-of-service (DoS) cyberattack, the company said. Microsoft Azure is a cloud computing platform used by businesses and organizations around the world. Status Updates […]
Notorious Starbucks on Astor Place shutters after nearly 30 years: ‘I’ll shed a tear’
This Starbucks store has finally run out of steam. The infamous Starbucks at 13-25 Astor Place, known for its dilapidated public restrooms, sleeping homeless people and begging inside, quietly closed its doors on Sunday evening after nearly three decades in business opposite the Cube. “I’ve seen staff unlock the door and have to drag someone […]
Starbucks shares jump after Elliot Investment Management buys big stake in coffee giant
Shares of the coffee chain surged in late trading on Friday after activist investor Elliott Investment Management reportedly has a sizable position in Starbucks. Elliott is reportedly pressuring Starbucks, which has been criticized for its long wait times, to find new ways to boost its stock price. The Wall Street Journal was first to report […]
Questions for Starbucks About Its New Diversity Policy
Estimated Reading Time: 3 minutes Starbucks recently announced that it is tying pay to the accomplishment of diversity goals. Specifically, its goals are to have at least 30% of its U.S. corporate employees and 40% of its U.S. retail and manufacturing employees to be people of color defined as black people, other people of color and […]
Starbucks, Mercedes team up in EV charging network expansion
Virginia Attorney General Jason Miyares speaks to The Bottom Line about the 26 states suing the Biden administration over EV mandates. Mercedes-Benz Electric car The charging subsidiary will partner with Starbucks to expand its charging network in the United States. Mercedes-Benz High Power Charging announced Wednesday that it has partnered with the Seattle-based coffee giant […]
Starbucks sponsors Republican National Convention
Starbucks is one of several sponsors funding the Republican National Convention (RNC) this week. by Milwaukee Host CommitteeStarbucks is among a group of partners that have pledged their support for the tournament, which began on Monday. The group includes The Heritage Foundation, General Motors and Turning Point USA, among others. First reported By Sludge. Last […]
How Starbucks is responding to gripes about 40 minute wait times
Starbucks baristas have begun rolling out a new system aimed at speeding up service and easing a bottleneck that has left customers frustrated and waiting up to 40 minutes for their coffee. The system means Starbucks will change the order in which hot and cold drinks are served. Previously, Starbucks baristas would prioritize cold drinks […]
Starbucks warned to chop customer wait times as sales slip
Starbucks is being asked to come up with ways to reduce wait times. There’s nothing worse than having a barista waiting during the morning rush, and with Starbucks’ sales set to fall in 2024, experts are urging the coffee giant to speed up the process to boost customer loyalty. The coffee roasting company reported its […]