We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
3 Takeaways from Starbucks' 2017 Annual Shareholders Meeting
Read MoreHide Full Article
On Wednesday, coffee giant Starbucks Corp. (SBUX - Free Report) held its 25th Annual Meeting of Shareholders in Seattle, with more than 3,300 partners, shareholders, invited guests, and board members in attendance. This also marked Howard Schultz last meeting as CEO. “As I move into my new role as executive chairman, there is only one person who can lead us into the future. For his skill, his leadership, and above all, his love for the company, I am proud to call Kevin Johnson the next CEO of Starbucks,” said Schultz. Kevin Johnson is set to become CEO on April 3.
In addition to the change in CEO, Starbucks announced plenty of new initiatives the company is looking to achieve.
10,000 Veterans Hired
Starbucks vowed to hire 10,000 veterans by 2018, a year earlier than planned, as well as hiring 25,000 veterans and military spouses by 2025. The company also promised to open 100 more stores that support military families and communities, in addition to the current 32 Military Family Stores open near bases that employ mostly veterans and military spouses.
This promise to hire more veterans comes after backlash to Starbucks’ previous announcement that it plans on hiring 10,000 refugees in its stores worldwide, a response to President Trump’s executive order to bar U.S. entry of refugees from several predominantly Muslim countries.
New Lunch Menu
Starbucks is launching a new lunch menu of “grab-and-go” salads and sandwiches that are made daily. Called Mercato, the menu seeks to meet a variety of dietary lifestyles, and leftover items will be donated to local food banks though Starbucks’ FoodShare program with Feeding America. This mirrors Pret a Manger, a U.K.-based coffee and healthier food chain that has donated their unsold food since its inception in 1986.
The Mercato menu will start with more than 100 stores in Chicago on April 11, with plans to quickly expand nationwide in the future.
Mobile Innovation
Later in 2017, Starbucks’ popular Mobile Order & Pay platform will allow Ford (F - Free Report) drivers to place a voice order via an integration with Amazon’s (AMZN - Free Report) intelligent personal assistant, Alexa. In Ford vehicles equipped with SYNC 3 technology, customers will now be able to place an order simply by saying “Alexa, ask Starbucks to start my order.”
The company also expanded on the My Starbucks barista, part of its Starbucks Mobile App. Using artificial intelligence, customers can now place their orders via voice command or messaging interface. The app update is currently available to over 100,000 customers across the U.S., and is being rolled out to all iOS users, with Android users being added in subsequent releases.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. While Apple sold a mere 1 billion iPhones in 10 years, a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
3 Takeaways from Starbucks' 2017 Annual Shareholders Meeting
On Wednesday, coffee giant Starbucks Corp. (SBUX - Free Report) held its 25th Annual Meeting of Shareholders in Seattle, with more than 3,300 partners, shareholders, invited guests, and board members in attendance. This also marked Howard Schultz last meeting as CEO. “As I move into my new role as executive chairman, there is only one person who can lead us into the future. For his skill, his leadership, and above all, his love for the company, I am proud to call Kevin Johnson the next CEO of Starbucks,” said Schultz. Kevin Johnson is set to become CEO on April 3.
In addition to the change in CEO, Starbucks announced plenty of new initiatives the company is looking to achieve.
10,000 Veterans Hired
Starbucks vowed to hire 10,000 veterans by 2018, a year earlier than planned, as well as hiring 25,000 veterans and military spouses by 2025. The company also promised to open 100 more stores that support military families and communities, in addition to the current 32 Military Family Stores open near bases that employ mostly veterans and military spouses.
This promise to hire more veterans comes after backlash to Starbucks’ previous announcement that it plans on hiring 10,000 refugees in its stores worldwide, a response to President Trump’s executive order to bar U.S. entry of refugees from several predominantly Muslim countries.
New Lunch Menu
Starbucks is launching a new lunch menu of “grab-and-go” salads and sandwiches that are made daily. Called Mercato, the menu seeks to meet a variety of dietary lifestyles, and leftover items will be donated to local food banks though Starbucks’ FoodShare program with Feeding America. This mirrors Pret a Manger, a U.K.-based coffee and healthier food chain that has donated their unsold food since its inception in 1986.
The Mercato menu will start with more than 100 stores in Chicago on April 11, with plans to quickly expand nationwide in the future.
Mobile Innovation
Later in 2017, Starbucks’ popular Mobile Order & Pay platform will allow Ford (F - Free Report) drivers to place a voice order via an integration with Amazon’s (AMZN - Free Report) intelligent personal assistant, Alexa. In Ford vehicles equipped with SYNC 3 technology, customers will now be able to place an order simply by saying “Alexa, ask Starbucks to start my order.”
The company also expanded on the My Starbucks barista, part of its Starbucks Mobile App. Using artificial intelligence, customers can now place their orders via voice command or messaging interface. The app update is currently available to over 100,000 customers across the U.S., and is being rolled out to all iOS users, with Android users being added in subsequent releases.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. While Apple sold a mere 1 billion iPhones in 10 years, a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>