Starbucks sets new benchmark in sustainability for China’s specialty coffee industry and completes vertical integration in China at scale ‘from bean-to-cup’ – a first for the company globally

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Company’s largest international investment in a coffee manufacturing and distribution center at RMB1.5 billion (~US$220 million)

Kunshan, China - September 19, 2023 – Starbucks today announced the eagerly anticipated opening of its China Coffee Innovation Park (CIP), fulfilling its scaled vertical integration ‘from bean-to-cup’ across one market – a first for the company globally. Since the CIP’s initial announcement in March 2020, Starbucks has made two additional rounds of investments, making it the largest investment in any Starbucks coffee manufacturing and distribution center outside the United States at RMB1.5 billion (~US$220 million). The CIP holds the distinction of being designed to be Starbucks most energy efficient and sustainable coffee manufacturing and distribution center in the world.

“As one of the largest consumer markets in the world, China presents tremendous opportunities for Starbucks. The Coffee Innovation Park highlights Starbucks foresight in elevating the supply chain through digitalization and advancing our sustainability agenda, enhancing our unique competitive advantage as we accelerate our global growth,” said Laxman Narasimhan, ceo of Starbucks Coffee Company. “I couldn’t be prouder of the China team’s visionary thinking. As Starbucks largest and fastest-growing international market, we will continue to deepen our investment and reinforce our unwavering long-term commitment to the China market.”

“The Coffee Innovation Park holds important significance for Starbucks in China and globally. It not only showcases Starbucks unrivalled coffee leadership, fulfilling our scaled vertical integration in China ‘from bean-to-cup’, but also sets a new benchmark for sustainability in China’s coffee industry. Its immersive experience center further elevates China’s specialty coffee industry with a multi-sensory showcase of the coffee journey. The CIP is yet another testament that Starbucks purpose and commitment to China go far beyond a cup of coffee,” said Belinda Wong, chairwoman and ceo of Starbucks China.

Located in the city of Kunshan, an hour from Shanghai, the 80,000m2 CIP features a roasting plant deploying Starbucks most energy efficient technology, a state-of-the-art integrated distribution center (IDC), and an immersive experience center. It imports high quality Arabica green beans for roasting, packaging, storage, and distribution, while showcasing the ‘bean-to-cup’ coffee journey to visitors and providing coffee related training - all in one location.

Elevating Starbucks Coffee Expertise and Leadership

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With capacity to supply all Starbucks coffee locations in China, including as the company continues to grow, the CIP will use advanced eco-friendly technologies to blend and roast high quality Arabica green beans sourced from more than 30 countries around the world, including China.

It will power up Starbucks speed and agility in product innovation, enabling the company to produce quality coffee tailored for China. Starbucks China has cultivated a team of 20 local roasters, including the only female Master Roaster for Starbucks globally. Carefully selected from among 60,000 Starbucks China partners, every roaster in the CIP has undergone 600 hours of intensive training in the United States and China. Through cultivating local coffee roasting talent, leveraging Starbucks more than 50 years of global roasting expertise combined with local insights, the CIP will be able to develop a variety of unique blends and roast profiles in future that are created to meet the evolving tastes of Chinese customers.&nbsp;

Freshly roasted coffee will be delivered to Starbucks stores market wide from the IDC, which serves as the center of Starbucks China’s distribution network, directly supplying thousands of Starbucks stores in the region. As Starbucks most highly automated distribution center globally, the IDC uses advanced automation technologies to handle over 90 percent of volume. Also noteworthy is its 34-meter high fully automated storage and retrieval system, which makes the IDC six times more space-efficient compared to a conventional Starbucks warehouse.

Setting New Benchmark for Sustainability

The CIP pushes the envelope in sustainability as the only coffee manufacturing and distribution center in China designed and built based LEED Platinum and China Green Building Three Star1, leading sustainability standards for carbon emissions, energy and water use and waste. It features Starbucks most energy efficient roasting technology globally, which achieves significant reductions in energy consumption and carbon emissions compared to other roasting plants in Starbucks global network.

Sustainability is embedded across all aspects of the CIP’s design, construction, roasting, and operations:

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Building a Leading Specialty Coffee Industry

The CIP enables Starbucks China &nbsp;to be the first market in the company’s global network to complete a fully scaled vertical integration ‘from bean-to-cup’, as well as the first coffee retailer in China to do so2 with:

Showcasing the Miraculous Journey of Coffee

Transcending traditional notions of a manufacturing site, the CIP features an immersive Experience Center that provides a creative and unique interpretation of industrial tourism with an authentic, vivid showcase of the ‘bean-to-cup’ coffee journey. Through the Experience Center, Starbucks brings to life the miraculous power of a small coffee bean, for more people to experience the romance and artistry of coffee craft, learn about the many hands working together to ensure a sustainable future for coffee, and be inspired to do their part to support planet-positive industries and lead eco-friendlier lifestyles.

Comprising of 12 touchpoints, visitors are transported across the world virtually to experience the sights, sounds and smells of faraway coffee origins from China’s Yunnan province to the farms in Costa Rica. They will witness roasting in-person and up close as they learn about the latest innovations and sustainability practices at different parts of the coffee value chain. For the most loyal fans, select Starbucks Rewards Gold members will be able to immerse themselves in this wondrous experience in the near future.

Starbucks has been contributing to building a leading specialty coffee industry in China since entering the Chinese mainland market in 1999. It has been operating a Farmer Support Center in Yunnan since 2012, to provide open‐source agronomy resources to local coffee farmers. Earlier this month, it established the Starbucks China Innovation and Tech Center, focused on incubating human-centric digital retail innovations for the China market, where a new Starbucks store opens every nine hours. Starbucks currently has a market footprint of more than 6,500 stores across more than 250 Chinese cities. It continues to ramp up its commitment in China as it strives towards its ambition to operate 9,000 stores across 300 Chinese cities by 2025 and invest over US $450 million.&nbsp; This will be complemented by 4,000 “We Proudly Serve” Starbucks Coffee Foodservice sites.

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 36,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="https://www.stories.starbucks.com/">https://stories.starbucks.com</a>&nbsp;or&nbsp;<a href="https://www.starbucks.com/">www.starbucks.com</a>.&nbsp;

Forward-Looking Statements

Certain statements contained herein are “forward-looking” statements within the meaning of applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections. Our forward-looking statements, and the risks and uncertainties related thereto, include, but are not limited to, those described under the “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the SEC, as well as:

A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this report. We are under no obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

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1 Derived based on publicly available information.

2 Derived based on publicly available information.

Starbucks China Coffee Innovation Park: Now Roasting - Starbucks Stories

Stories to inspire and nurture the human spirit

Starbucks Stories

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Starbucks Corporation

Starbucks China Coffee Innovation Park: Now Roasting

Starbucks today announced the eagerly anticipated opening of its China Coffee Innovation Park (CIP), fulfilling its scaled vertical integration ‘from bean-to-cup’ across one market – a first for the company globally.

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Starbucks Coffee Company today announced the promotion of Molly Liu to executive vice president and co-chief executive officer of Starbucks China, effective October 2, 2023. Liu has served as Starbucks China’s chief operating officer since 2021, and previously served as the company’s vice president of Digital Ventures. 

“Molly is a strong leader who has been instrumental in elevating the Starbucks Experience for our Chinese customers and driving industry-leading innovation for our China business,” said Laxman Narasimhan, chief executive officer of Starbucks. “There remains tremendous opportunity for Starbucks in China, and I’m confident that together, Belinda and Molly, will lead Starbucks through our next chapter, while living our Mission and Values.”&nbsp;

Since joining the company in 2012, Liu has held many leadership roles. As head of the Digital Ventures organization, she set the foundation for the company’s digital flywheel in the market, most notably with the launch of “Starbucks Delivers” and “Starbucks Now” digital ordering services, which grew to contribute 48 percent of China sales in Q3 FY23. In addition, she established the company’s Starbucks Rewards program and turned it into a leading loyalty program with more than 20 million active members. Recently as coo, she oversaw the company’s accelerated expansion to more store locations, while invigorating coffee beverage innovation with the successful launch of new platforms. &nbsp;

“It’s an honor to lead Starbucks China in this moment as we strengthen our focus on the experiences we create for our partners (employee) and customers,” said Liu. “Belinda and I have worked together for over a decade and I’m excited to be partnering with her in this role as we continue to deepen the moments of human connection with our Chinese customers.”

Belinda Wong will continue to serve as chairwoman and ceo of Starbucks China, as the company aims to operate 9,000 stores across 300 cities by 2025 that will create more than 10,000 additional jobs annually. A 24-year partner, Wong’s strategic vision, entrepreneurial drive, and deep love for the company and its people has resulted in the company’s unprecedented growth since leading the market in 2011.

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 36,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="https://stories.starbucks.com/">https://stories.starbucks.com</a> or <a href="https://www.starbucks.com/" target="_blank" rel="noreferrer noopener">www.starbucks.com</a>. &nbsp;

Starbucks Coffee Company today announced the promotion of Molly Liu to executive vice president and co-chief executive officer of Starbucks China, effective October 2, 2023.

Starbucks Promotes Molly Liu to co-ceo of Starbucks China - Starbucks Stories

Starbucks Promotes Molly Liu to co-ceo of Starbucks China

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Howard Schultz&nbsp;to retire as director; Starbucks honors Schultz as lifelong Chairman Emeritus, forever inspired by his passion, heart, spirit, and commitment to the power of human connection

Elects Wei Zhang to join Board of Directors, bringing more than 20 years of experience in global operations, consumer technology and corporate business development

SEATTLE – Starbucks Coffee Company (NASDAQ: SBUX) today&nbsp;announced Howard Schultz, the company’s modern-day founder and chairman emeritus, will step down from the Board of Directors effective today as part of a planned transition.&nbsp;Schultz previously stepped down as chief executive officer in March of this year.&nbsp;

"As I reflect on my 41 years with the company, a foundation of love and creative, passionate customer experience has been built by over five million partners (employees) around the world who have worked in the company," said Schultz. "My gratitude to them and the millions of stakeholders and customers that have helped Starbucks endure is beyond measure. I am enormously blessed to have experienced this journey from the ground floor at the company these many years.&nbsp; I look forward to supporting this next generation of leaders to steward Starbucks into the future as a customer, supporter and advocate in my role as chairman emeritus."

Schultz, who has long encouraged Starbucks partners to "dream big and then dream bigger," transformed Starbucks from a small company selling only whole beans to the renowned third place that it is today with more than 36,000 stores in 86 markets around the world. Starbucks went public on June 26, 1992. Since then, the stock price has increased on a split adjusted basis to $96.24 today, as of September 12, 2023, representing an increase of approximately 36,000 percent or, including dividends, a total return of approximately 41,000 percent on the investment compared to an approximately 1,000 percent total return for the S&amp;P 500 over the same period.

Along the way, Schultz focused on creating opportunities for partners such as he never had growing up in the housing projects of Brooklyn, New York. Under his leadership, Starbucks became one of the first employers to offer&nbsp;company stock ownership and&nbsp;health care&nbsp;for full and part-time employees, pathways to higher education by providing upfront tuition coverage through the Starbucks College Achievement Plan, family expansion benefits, and more.

Schultz, who built Starbucks into a company that has served as a launching pad for millions, will now turn his attention with his wife Sheri to focus on a range of philanthropic and entrepreneurial investments to&nbsp;create greater opportunity, accessible to all. They are co-founders of the <a href="https://www.schultzfamilyfoundation.org/" target="_blank" rel="noreferrer noopener">Schultz Family Foundation</a> and <a href="https://www.emesproject.com/" target="_blank" rel="noreferrer noopener">emes project LLC</a>, two organizations working in partnership with employers, entrepreneurs, non-profits, and governments to seed innovations and scale solutions&nbsp;that are aimed at enabling everyone to access the full promise of America.

"Howard’s vision, courage and deep love and responsibility for partners and this company created a blueprint for us all in how to lead through the lens of humanity," said Mellody Hobson, independent Starbucks Board of Directors chair. "He put partners and shareholders above himself when he returned to Starbucks as ceo in 2022, working tirelessly. On behalf of the board, I offer my deepest thanks and appreciation to him as he steps down. Going forward, we will forever be inspired by his passion, heart, spirit, and commitment to the power of human connection, and we remain grateful for his support of our leaders and confidence in the company."

Starbucks also announced today the election of Wei Zhang to the company’s Board of Directors, effective October 1. Zhang most recently served as senior advisor to Alibaba Group, and formerly led Alibaba Pictures Group as president. Zhang joins Starbucks board as its eighth director, following the election of Beth Ford, CEO of Land O’Lakes Inc., earlier this year.&nbsp;&nbsp;

"Wei is recognized as an innovator and game changer, and we are thrilled to have her join us. Her deep experience, perspective and commitment to corporate business development will help guide us as we continue to grow as a global company," said Hobson. "Her addition to the board, combined with Laxman’s inspiring and strategic vision, proven operational effectiveness, and deep experience in both developed and developing markets, makes me confident that our best days are truly ahead of us."

Zhang spent more than a decade leading Alibaba Group’s international business and media strategy, most recently as senior advisor to Alibaba Group and president of Alibaba Pictures Group. In her earlier role as Alibaba Group’s SVP out of Beijing, she led teams and initiatives to grow the company’s corporate development, corporate strategy and social responsibility. Zhang has also served in similar leadership roles at News Corp China and CNBC China, where she led the company’s operations, strategy and business development. Zhang’s background also includes senior positions at Bain &amp; Company and General Electric.&nbsp;

Zhang currently serves on the board for Ralph Lauren Corporation. She is also a past board member of Los Angeles Sports &amp; Entertainment Commission, Amblin Partners and the Jack Ma Foundation, among others.&nbsp;

"The limitless growth mindset that guides Starbucks partners and business is impressive and has resonance," said Zhang. "I’ve been a Starbucks customer across the globe for decades. I’m honored to have the opportunity to work with the board and talented leadership team to contribute to the power, relevance and resilience of the Starbucks business and brand – creating significant value for all stakeholders."

Zhang earned her MBA from Harvard Business School and her bachelor’s degree from Seton Hill University.&nbsp;In 2019, she was recognized with one of the university’s highest honors, the Distinguished Alumni Leadership Award, presented annually to a Seton graduate for their industry contributions, professional achievements and service to their community. In 2020,&nbsp;Business Insider&nbsp;named her as one of the "100 People Transforming Business" and in 2019, she was recognized with an "Entertainment Game Changer Award" from Asia Society.&nbsp;&nbsp;

"I want to extend a warm welcome to Wei, who brings essential experience in global operations, consumer technology, entertainment and corporate business development to the Starbucks board,"&nbsp;said Laxman Narasimhan, chief executive officer of Starbucks. "I also offer my respect to Howard as he steps down from the board. As we go forward, Starbucks will continue our journey of investment in our people, our business and the communities we serve to deliver outsized returns to all our stakeholders."

Other members of the&nbsp;<a href="https://investor.starbucks.com/corporate-governance/board-of-directors/default.aspx" target="_blank" rel="noreferrer noopener">Starbucks Board of Directors</a>&nbsp;include: Mellody Hobson, Richard Allison, Andy Campion, Beth Ford, Jørgen Vig Knudstorp, Satya Nadella and Laxman Narasimhan.

&nbsp;About Starbucks&nbsp;

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 36,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="https://www.stories.starbucks.com">https://stories.starbucks.com</a> or&nbsp;<a href="https://www.starbucks.com/" target="_blank" rel="noreferrer noopener">www.starbucks.com</a>.&nbsp;

Starbucks Announces Transitions to Its Board of Directors - Starbucks Stories

Starbucks Announces Transitions to Its Board of Directors

Howard Schultz to retire as director; Starbucks honors Schultz as lifelong Chairman Emeritus, forever inspired by his passion, heart, spirit, and commitment to the power of human connection Elects Wei Zhang to join Board of Directors, bringing more than 20 years of experience in global operations, consumer technology and corporate business development

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The alliance highlights a shared passion for exceptional coffee and a commitment to continue to grow the category.&nbsp;&nbsp;

Nestlé and Starbucks are celebrating five years of their Global Coffee Alliance, established in 2018 between the two companies. The alliance combines the strength and affinity of the Starbucks brand and the company’s coffee expertise with Nestlé’s proprietary coffee platforms, manufacturing know-how and market reach. It aims to elevate and grow the Starbucks brand in consumer-packaged goods and out-of-home channels. Nestlé CEO Mark Schneider and Starbucks CEO Laxman Narasimhan met together to celebrate the milestone at an event at Nestlé’s headquarters, in Vevey, Switzerland.

Through the global coffee alliance, Nestlé and Starbucks bring to market a wide range of products, including Starbucks capsules for the Nespresso and Nescafé Dolce Gusto systems, whole bean, roast and ground and premium instant Starbucks coffees, K-Cup pods and creamers in the at-home category and in foodservice channels.

Nestlé has expanded the Starbucks on-the-go business globally and recently launched a range of ready-to-drink coffee beverages across Southeast Asia and Oceania. It has significantly strengthened its coffee business in North America. In 2022, the Starbucks business generated USD 1.6 billion in incremental sales for Nestlé.

The two companies have expanded the reach of Starbucks branded premium products to nearly 80 markets worldwide, and to-date, more than 14 billion cups are brewed at home and served through foodservice channels.

The alliance builds on the experience and capabilities of both Nestlé and Starbucks. Together, the companies have developed new, innovative products and have introduced the brand to new formats and markets, leveraging both organizations’ product knowledge and Nestlé’s distribution footprint.

“We are proud of the work we have achieved together,” said Mark Schneider, CEO, Nestlé S.A. “Nestlé and Starbucks are deeply committed to growing this business. The results show that. The outstanding collaboration between the two teams is based on common shared values and a commitment to deliver exceptional coffee that is responsibly and sustainably sourced. I look forward to taking our partnership to new heights.”

Laxman Narasimhan, ceo, Starbucks Coffee Company, said, “The formation of the Global Coffee Alliance has allowed both companies to focus on their core strengths, which has proven to be highly successful over the past five years. We are confident that there remains enormous opportunity for the Starbucks brand in this segment and only expect this business to continue to grow and reach more consumers through the alliance.”

The two companies will continue to strengthen the business and expand the Starbucks brand by seeking to create new coffee moments. They aim to capture new opportunities with cold and seasonal coffees - two categories driven mainly by young consumers. They will grow out-of-home programs and solutions, and they will continue to innovate and bring new coffee experiences to consumers.

The alliance highlights a shared passion for exceptional coffee and a commitment to continue to grow the category.

Nestlé and Starbucks Celebrate Five Years of their Global Coffee Alliance

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Starting Monday, August 14, Starbucks is introducing the Summer Menu Remix featuring three cool twists on customer favorite cold drinks, available for order on the Starbucks app for a limited time.&nbsp;&nbsp;

Chocolate Cream Cold Brew with Caramel Syrup in a Caramel Lined Cup

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Iced Chai Tea Latte with Matcha Cream Cold Foam

The Starbucks Summer Remix menu will be featured in the Starbucks app for a limited time, but customers can enjoy the beverages year round using the customization tips and recipes above.

Join Starbucks Rewards to Order Through the Starbucks app&nbsp;

The summer vibes are even stronger as a Starbucks Rewards member. Joining is simple, customers just need their name, e-mail address and a password to create an account for Starbucks Rewards. Go to <a href="https://www.starbucks.com/rewards/" target="_blank" rel="noreferrer noopener">www.starbucks.com/rewards</a> or <a href="https://app.starbucks.com/" target="_blank" rel="noreferrer noopener">app.starbucks.com</a>, or to the Starbucks app and follow the prompts to create an account.&nbsp;

Read more Starbucks summer-inspired news <a href="https://stories.starbucks.com/stories/2023/2023-starbucks-summer-highlights/" target="_blank" rel="noreferrer noopener">here</a>.&nbsp;&nbsp;&nbsp;&nbsp;

Three cold beverages on a swirly pink, purple and orange background

Starting Monday, August 14, Starbucks is introducing the Summer Menu Remix featuring three cool twists on customer favorite cold drinks, available for order on the Starbucks app for a limited time.

Summer Just Got Brighter with Starbucks Limited-Time Summer Remix Menu

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Furthering their resource-positive commitments, Starbucks launched a reusable cup test in 12 Starbucks stores in Napa and Petaluma, California today. From August 14 through October 22, customers at&nbsp;participating stores will be able to bring their own personal cup in café or drive-thru, be offered a Borrow A Cup from Starbucks, or choose For Here Ware, a reusable ceramic or glass cup for customers who opt to sit and stay in café.

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Starbucks teamed up with TURN Systems for the test, using their high-tech collection bins to understand cup return behavior. Customers who bring in their own clean personal cup will receive the standard $0.10 off with an additional 25 Bonus Stars for Starbucks Rewards members.* When a customer returns a borrowed cup, they also have the option to register online with TURN for a chance to win a prize.**&nbsp;

“Our latest round of reusables tests around the world contribute to our goal for all customer packaging to be reusable, recyclable, or compostable in the future. We know our partners and customers care about the planet, and we’re proud to offer them ways to join us in in making sustainable choices in their everyday lives,” said Amelia Landers, vp, Business Strategy, Partner &amp; Customer Solutions.

Reusables tests help drive progress toward Starbucks commitment to reduce waste sent to landfill. Starbucks is committed to cutting their waste footprint in half by 2030 and recently updated their target to include a commitment for all customer packaging to be reusable, recyclable, or compostable.&nbsp;

Starbucks has conducted reusables tests in more than 25 markets around the world with more planned in the year ahead. The test in California is the latest Starbucks test in U.S. with additional reusables tests completed in Colorado and ongoing in Arizona.&nbsp; The SODO 8 store inside Starbucks Seattle headquarters has been serving 100% of beverages in reusable cups since March 2022.

“These types of tests are extremely important so that the company can understand all the different ways we can make an impact and move towards goals that we have set for the future,” said Tonya Palacios, Starbucks district manager, who leads the stores conducting the test. Tonya is also a Starbucks College Achievement Plan graduate, currently pursuing a master's degree in Sustainability Leadership. “I’m optimistic that we will execute the test at a high level and gather lots of feedback that will influence the next step in reusable cups and our sustainability goals.”&nbsp;

Choosing reusables is a new habit for many customers. Starbucks’ behavioral science-based research shows ease and convenience are foundational. Personal cup washers were developed in partnership with our store partners in the Starbucks Tryer Innovation Lab and created to ensure convenience for customers bringing their own cup. In participating stores across Arizona State University campus, customers can wash their personal cup or a returned Borrow A Cup right at the counter in the time it takes to complete their order.&nbsp;&nbsp;

Since May, Starbucks has been conducting a 100% reusables test at participating ASU campus stores and every customer who brings in their own personal reusable cup or reuse a Borrow A Cup from a previous visit can receive a $1 discount on their beverage order. Customers can also return their Borrow A Cup to special return bins around campus that were designed by the ASU Circular Living Lab using the equivalent of 1,350 repurposed single-use cups.

Bringing customers a reusables experience on the go

With the majority of Starbucks beverages enjoyed on the go, the company continues to test and learn how to best provide customers the option to shift toward reusables. Customers across Colorado can now bring their own personal cup in drive-thru, the result of a successful personal cup test run from April to June, and they will receive a $0.10 discount on their order and 25 Bonus Stars for Starbucks Rewards members.

Starting in 2024, customers in all Starbucks Stores across the U.S. and Canada will be able to bring their personal cup wherever they order, including in café, drive-thru or mobile order and pay.

*Valid at participating stores on in-store beverage purchases only (max 3x per day).

**NO PURCHASE IS NECESSARY TO PLAY OR WIN. Participation constitutes the participant's full and unconditional agreement to and acceptance of these Official Rules (https://turnus.in/pages/CSB15). Open to legal residents of California at the time of Game Play who are at least 18. The Turn Reusable Cup Instant Win Game (“Game”) begins on August 14th, 2023, and ends on October 22, 2023. Odds of winning depend on the number of eligible entries received. Total Prize ARV: $200,000. &nbsp;The Game is sponsored by TURN Systems Corporation (“Sponsor”).&nbsp;

Three empty reusable Starbucks cups in different sizes, on a table in a Starbucks cafe

Starting in 2024, customers in all Starbucks stores across the U.S. and Canada will be able to bring their personal cup wherever they order, including in café, drive-thru or mobile order and pay.

Starbucks Latest California Borrow A Cup Test Furthers Company’s Shift Toward Reusables

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SEATTLE – Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal third quarter ended July 2, 2023. GAAP results in fiscal 2023 and fiscal 2022 include items that are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.&nbsp;

For the full press release, please visit our Investor Relations site <a href="https://investor.starbucks.com/press-releases/financial-releases/default.aspx" target="_blank" rel="noreferrer noopener">here</a>.

“Our strong third quarter results point to all-around momentum in the business, and reflect the significant progress we are making against our Reinvention Plan. Our results were also amplified by the distinctive competitive advantages that set us apart in the market,” commented Laxman Narasimhan, chief executive officer. “Starbucks is an iconic, durable brand and I am confident in the multiple paths available for the company to drive significant growth and margin improvement, which position us well to create outsized long-term shareholder value,” Narasimhan added. &nbsp;

“I am pleased with our third quarter performance, which beat our expectations, including our International segment. Our performance was bolstered by the progress we are making against our strategies, specifically our Reinvention Plan, and its unfolding into tangible financial results, as we delivered earnings growth of 19% well above our revenue growth of 12%,” commented Rachel Ruggeri, chief financial officer. “The momentum we have built and strength we are seeing globally, gives us the confidence and optimism to close our fiscal year strong,” Ruggeri added. &nbsp;

Starbucks today reported financial results for its 13-week fiscal third quarter ended July 2, 2023.

Starbucks Reports Q3 Fiscal 2023 Results

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Company announces new centralized relocation service, community building and mental health support &nbsp;

Seattle, WA — Today, Starbucks Corporation (Nasdaq: SBUX) is proud to strengthen its support for the U.S. military community, including partners (employees) and their families through expanded career development, mental health, and hiring initiatives. The focus areas were inspired by conversations with Starbucks Armed Forces Network (AFN), a partner (employee) resource group that welcomes, engages and empowers Starbucks Veterans, military spouses and advocates. &nbsp;

“At Starbucks, two of our promises that underpin our mission are building a bridge to a better future for our partners and we contribute positively to every community we serve, and our announcements today reinforce these promises from a company grounded in human connection,” said Laxman Narasimhan, ceo of Starbucks. “I had the opportunity to work alongside many partners from our Military Family Stores. This feedback from our partners within our own military community has been invaluable to helping us offer innovative, industry-leading support where they need it most.” 

Narasimhan added, “As part of our announcement, we extend more personalized mental health support, support the celebration of heritage, and provide better pathways to develop careers at Starbucks for our Veterans and our families. We are proud to call our military family members and advocates our partners and welcome the ability to recruit even more of them.” &nbsp;

Supporting our partners &nbsp;

To support career development and mobility for reservist partners and military spouses, Starbucks is providing a new centralized service that connects partners to Starbucks opportunities as part of its transfer policy for partners going through relocation. It is estimated that <a href="https://www.mfan.org/topic/moving-permanent-change-of-station/effects-of-moving-on-military-families/#:~:text=Military%20families%20move%2C%20on%20average,It%20is%20a%20substantial%20setback." target="_blank" rel="noreferrer noopener">military families move every 2.5 years</a> on average. This resource will enable partners and their families to grow their careers within Starbucks, while navigating relocation required by the military.

Starbucks is also <a href="https://stories.starbucks.com/press/2020/starbucks-transforms-mental-health-benefit-for-us-employees/" target="_blank" rel="noreferrer noopener">building on its work with Lyra Health</a> to ensure Veteran partners and their families have personalized mental health support. Starbucks and Lyra are developing a new workshop that will be available to partners and their families later this fall. &nbsp;

“Starbucks has a deep and abiding commitment to supporting military- and Veteran-connected families all year round, and today's announcement sets them apart as a premiere thought leader in how companies and our communities become stronger by investing in military and Veteran families,” said Kathy Roth-Douquet, CEO of Blue Star Families. “We are both deeply committed to ensuring that military families have a place to connect, find support, and build enduring relationships wherever the mission takes them.” 

Starbucks will work with its partners, VSOs and community members with lived experiences to inform and develop these programs. &nbsp;

Supporting our communities &nbsp;

Starbucks today also announced plans to expand its Military Family Store program across the U.S. Since 2015, Starbucks Military Family Stores have been core to advancing Veteran causes, accelerating hiring in the community, and supporting the transition from military to civilian careers. Starbucks current Military Family Stores across the U.S. serve as central gathering places for active military personnel, Veterans, their families and surrounding communities who are often far from their loved ones. &nbsp;

Starbucks aspires to more than double its Military Family Store count, expanding the program footprint to 250 stores by 2025. Starbucks will locate 100 of these new stores on military bases. Of these stores, select locations will be designed to recognize and honor each of the armed forces in unique ways. &nbsp;

"As a member of Starbucks Armed Forces Network, I’m proud to see Starbucks continue to make a positive impact through their support for our military and Veteran community,” said Jeff J., Starbucks AFN executive champion. “These commitments build on other Starbucks personalized resources and benefits for the military community such as the <a href="https://starbucks.asu.edu/" target="_blank" rel="noreferrer noopener">Starbucks College Achievement Plan</a> extension option, up to 80 hours of military leave with full pay and up to 78 weeks of differentiated wage pay for partners called to active duty. The Armed Forces Network looks forward to continuing to advise on these initiatives as they come together.”

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 36,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="https://stories.starbucks.com/">stories.starbucks.com</a> or <a href="https://www.starbucks.com/" target="_blank" rel="noreferrer noopener">www.starbucks.com</a>.

Starbucks Strengthens its Support for the U.S. Military Community

Company announces new centralized relocation service, community building and mental health support.

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The lab to offer hands-on and virtual learning for Starbucks partners, students, researchers and industry leaders to innovate and scale solutions for some of the world’s most challenging social and environmental issues &nbsp;

Starbucks and Arizona State University partner to create programming this fall; the lab is expected to physically open within the next three years&nbsp;&nbsp;

Seattle, WA — Starbucks announced plans today to develop a new sustainability learning and innovation lab at Hacienda Alsacia – the company’s global agronomy headquarters for research and development, located in Costa Rica. The lab will serve as a hub for hands-on and virtual learning opportunities for Starbucks partners (employees), students, researchers and industry leaders to innovate and scale sustainable solutions for some of the world’s most challenging environmental and social issues, including climate adaption and agricultural economics.&nbsp;&nbsp;

Starting this fall, the lab will offer the first wave of educational programming to select Arizona State University (ASU) students and Starbucks partners. The first wave will leverage ASU’s leading educational technology and world-class faculty to enrich the student experience, including study abroad opportunities tied to existing ASU degree programs, such as Sustainability, Sustainable Food Systems, Global Agribusiness, Environmental and Resource Management, among others. Starbucks lab is expected to physically open within the next three years.&nbsp;

<a href="https://stories.starbucks.com/stories/2023/ten-years-of-impact-at-hacienda-alsacia/">For more than a decade</a>, Hacienda Alsacia, the company’s first and only company-owned and operated coffee farm, has focused on the sustainability of coffee.&nbsp; The farm is dedicated exclusively to research and development, where the Starbucks team is creating new coffee varieties, testing disease-resistant coffee trees and developing and sharing agricultural practices to produce a higher yield and ensure the future of coffee. While the research and development at Hacienda Alsacia will continue, the lab will expand the capabilities and collaboration needed to cultivate positive social and environmental change beyond coffee.&nbsp;&nbsp;

“This is an opportunity for us to advance Starbucks environmental promise to give more than we take and our farmer promise to ensure the future of coffee for all,” said Laxman Narasimhan, Starbucks chief executive officer. “We know we cannot do this important work alone, and the possibilities in front of us to scale solutions, partner with thought leaders and serve as a global hub for innovation are limitless."

Starbucks <a href="https://stories.starbucks.com/mission/" target="_blank" rel="noreferrer noopener">mission</a> extends well beyond its customers, partners and cafes. As a company that buys 3% of the world’s highest quality and ethically sourced arabica coffee from more than 400,000 farmers in more than 30 countries, Starbucks understands its future is inextricably tied to social and environmental challenges. The company has a long-standing commitment to work alongside communities to become a resource positive company, including cutting its carbon, water and waste footprints in half by 2030. In partnership with others, Starbucks is committed to identifying new ways to give more than it takes with the belief that the company can build a great business that scales for good and has a positive impact on the future.&nbsp;&nbsp;&nbsp;

Starbucks and ASU have a long-standing partnership of working together to build educational and innovative programming. Most recently, Starbucks and ASU reached a milestone of graduating more 10,000 partners through the <a href="https://stories.starbucks.com/stories/2023/bridge-to-the-future-more-than-10000-have-graduated-through-starbucks-college-achievement-plan/" target="_blank" rel="noreferrer noopener">Starbucks College Achievement Program.</a>&nbsp;&nbsp;&nbsp;&nbsp;

“This is an exciting new chapter in our nearly decade-long partnership with Starbucks,’’ said Arizona State University President Michael Crow. “The new sustainability learning and innovation lab will expand on our collaboration together, working closely to tackle critical challenges with a collective commitment to seek new and sustainable approaches that impact global communities.”&nbsp;

About Starbucks&nbsp;&nbsp;&nbsp;

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with over 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="https://stories.starbucks.com/" target="_blank" rel="noreferrer noopener">stories.starbucks.com</a> or <a href="http://starbucks.com/" target="_blank" rel="noreferrer noopener">starbucks.com</a>.&nbsp;&nbsp;&nbsp;

About Arizona State University&nbsp;&nbsp;

Arizona State University has developed a new model for the American Research University, creating an institution that is committed to access, excellence and impact. ASU measures itself by those it includes, not by those it excludes. As the prototype for a New American University, ASU pursues research that contributes to the public good, and ASU assumes major responsibility for the economic, social and cultural vitality of the communities that surround it.&nbsp;

The lab to offer hands-on and virtual learning for Starbucks partners, students, researchers and industry leaders to innovate and scale solutions for some of the world’s most challenging social and environmental issues.

Starbucks to open sustainability learning and innovation lab in Costa Rica - Starbucks Stories

Starbucks to open sustainability learning and innovation lab in Costa Rica

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The first Starbucks store in Rome overlooks Piazza Montecitorio, the historic and political heart of the ‘Eternal City’.&nbsp; Starbucks has exciting plans for the capital beyond the opening of Montecitorio, including two new store openings in Roma Termini Station at the end of May, creating a total of 45 new jobs.&nbsp;

Rome, May 10, 2023 - Starbucks is opening in Italy’s capital city tomorrow in partnership with Percassi, Starbucks exclusive Italian licensee partner, in Piazza Montecitorio - the historic and political heart of the ‘Eternal City’. This will be Starbucks 25th store in Italy, part of a broader expansion plan to bring the unique Starbucks Experience to even more Italian customers.&nbsp;&nbsp;

Since entering the Italian market in 2018 with the Starbucks® Reserve Roastery in Milan, around 450 jobs have been created and more are on the way: by the end of 2023, there will be 36 Starbucks stores in Italy in total. At the end of May, two more stores will also open at Termini Station: a grab&amp;go in the basement and a store on the terrace, to welcome tourists, commuters and locals when they arrive in Rome.&nbsp;

Starbucks has always strived to be a company that puts partners (employees), customers and coffee at the centre. First entering the Lazio region in 2022 with the opening of Castel Romano, Piazza Montecitorio marks Starbucks' 25th opening in Italy. Rome is one of three Italian cities, besides Milan and Verona, where Starbucks founder Howard Schultz first encountered Italian coffee culture in 1983.&nbsp;

“We are thrilled to open our first store in the center of Rome, with even more exciting plans to come for the capital. Tomorrow’s opening will be the first in a series of wonderful surprises for the city”, Matteo Morandi, CEO of Percassi Retail, comments. “Lazio is a very important region for Starbucks, and we celebrated our first opening in the province of Caserta last month, reaffirming our long-term commitment to continued growth in Italy.”&nbsp;

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The shop in Montecitorio, which will create 35 new jobs, has an area of 200 square metres on two floors, and 80 seats with a view of the Chamber of Deputies. The materials chosen recall the colour shades of Piazza Montecitorio. The ground floor is the liveliest and most dynamic area, made of travertine marble and tuff, typical of traditional Roman buildings, where customers can order their favourite food and drink, to be enjoyed on the floors of the store in comfortable seats surrounded by artworks on the walls. The upper floor has been designed with a more muted colour palette and offers a quieter space to enjoy the best traditional Starbucks experience.&nbsp;

“Coffee culture is very deep-rooted in Rome, with espresso being the most popular beverage”, comments Vincenzo Catrambone, General Manager of Starbucks Italy. “Even in Starbucks stores in Italy, the most bought drink is espresso, while younger generations love Starbucks cold beverages and iced coffee. We are always working to create unique food and beverage proposals for our Italian customers during the seasons along the year, to continue to meet their needs and amaze them.”&nbsp;&nbsp;

Food offerings include both bakery and salad items, as well as desserts. The menu also includes the brand new Oleato™ beverages made from Starbucks finest arabica coffee infused with extra virgin olive oil, which first launched in Italy in February and are now available in stores in the US, Japan and the UK. Drinks from the recently launched summer menu including Starbucks Refresha® Drink and seasonal Frappuccino® Blended Beverages will also be available.&nbsp;

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Follow us on our <a href="https://www.instagram.com/starbucksitalia/?hl=en" target="_blank" rel="noreferrer noopener">Instagram</a> and Facebook channels to stay updated on new store opening dates. Stay tuned!&nbsp;

LOCATION: Starbucks Piazza Montecitorio&nbsp; ADDRESS: Via della Guglia 56°-57-58-59, 00186 Roma&nbsp; OPENING TIMES: Monday - Sunday from 7 a.m. to 9 p.m.&nbsp;

LOCATION: Starbucks Stazione Roma Termini&nbsp; ADDRESS: Piazza dei Cinquecento, 00185 Roma&nbsp; OPENING TIMES: Monday - Sunday from 6 a.m. to 10 p.m.&nbsp;

About Starbucks® Coffee Company&nbsp;

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, Starbucks is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="https://stories.starbucks.com/" target="_blank" rel="noreferrer noopener">https://stories.starbucks.com/</a> and <a href="http://www.starbucks.com/" target="_blank" rel="noreferrer noopener">www.Starbucks.com</a>. &nbsp;

About Percassi Group&nbsp;

Percassi is a company whose activities include the development and management of franchising networks for major brands (such as Gucci, A|X Armani Exchange, Saint Laurent, Nike, Jordan, Victoria's Secret, Bath&amp;Body Works, LEGO, Garmin in the fashion-beauty and consumer sectors, and Starbucks in the food sector). Percassi is also active in the management of its own brands (KIKO Milano, Womo and Bullfrog in the cosmetics sector, DMAIL, Atalanta in the sports sector, Da30Polenta in the food industry). In the food service industry Percassi also manages, in partnership with the Cremonini Group, the brands Wagamama, Casa Maioli and Caio Antica Pinza Romana. Percassi also operates in the real estate sector for the realisation of important real estate projects in the commercial and management sectors. For further information: <a href="http://www.percassi.com/" target="_blank" rel="noreferrer noopener">www.percassi.com</a>&nbsp;

The first Starbucks store in Rome overlooks Piazza Montecitorio, the historic and political heart of the ‘Eternal City’. 

A room with a view for the first Starbucks opening in Rome

A room with a view for the first Starbucks opening in the center of Rome

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SEATTLE – Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal second quarter ended April 2, 2023. GAAP results in fiscal 2023 and fiscal 2022 include items that are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non GAAP measures at the end of this release for more information.

For the full press release, please visit our Investor Relations site <a href="https://investor.starbucks.com/2Q23-Earnings-Release/" target="_blank" rel="noreferrer noopener">here</a>.

“I am very pleased with our Reinvention progress and grateful for the opportunity to fully immerse into the company, which I formally took over on March 20, 2023. It is a privilege to have learned from our founder and partners around the world,” commented Laxman Narasimhan, chief executive officer. “From my immersion observations, our leadership team now has a clear line of sight into our growth headroom, as well as our opportunities to enhance margins and modernize the business, brand, partner experience and culture of Starbucks. As we strive to continue to be a different kind of company, we will unlock our limitless possibilities to meet the needs of today and, importantly, the future of Starbucks,” Narasimhan added.

“I am so proud of our outstanding second quarter performance, underscoring strength in both topline and margin globally. This momentum was made possible by the investments we are making in our stores and partners, and allowed us to continue unlocking capital to further reinvest in our business,” commented Rachel Ruggeri, chief financial officer. “As we begin on this next step in our journey, I’m confident that, together with our partners, our execution against our Reinvention plan and broader strategies will position us in our new era,” Ruggeri added. 

“In support of our Reinvention Plan, and as part of our ongoing efforts to transform our store portfolio, we continue to open, close and evolve our stores as we assess, reposition and strengthen our store portfolio. We are pleased to have opened over 100 net new stores in North America during the quarter and are excited to now have nearly 17,500 stores across the segment,” commented Sara Trilling, executive vice president and president of Starbucks North America. “International added more than 360 net new stores and continues to grow in-line with our ambitious expectations,” added Michael Conway, group president, International and Channel Development.

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A room with a view for the first Starbucks opening in the center of Rome

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Press Releases

Starbucks China Coffee Innovation Park: Now Roasting

Starbucks Promotes Molly Liu to co-ceo of Starbucks China

Starbucks Announces Transitions to Its Board of Directors

Nestlé and Starbucks Celebrate Five Years of their Global Coffee Alliance

Summer Just Got Brighter with Starbucks Limited-Time Summer Remix Menu

Starbucks Latest California Borrow A Cup Test Furthers Company’s Shift Toward Reusables

Starbucks Reports Q3 Fiscal 2023 Results

Starbucks Strengthens its Support for the U.S. Military Community

Starbucks to open sustainability learning and innovation lab in Costa Rica

A room with a view for the first Starbucks opening in the center of Rome

Starbucks Reports Q2 Fiscal 2023 Results

Oleato™ beverages arrive at select Starbucks stores in Japan on April 20

Starbucks Promotes Molly Liu to co-ceo of Starbucks China

Starbucks Strengthens its Support for the U.S. Military Community 