In Starbucks’s most recent 25th annual shareholders’ meeting held on Wednesday, the coffee company has highlighted several key factors on the company’s management plans and other strategic targets for growth for the coming years, led by outgoing Starbucks CEO Howard Schultz.
Meanwhile, the company has announced its plans to increase more job opportunities to come to around 240,000 globally by 2021; creating more than 68,000 jobs in the US, opening 12,000 new stores worldwide, and 3,400 new stores in the US.
In addition to that, Starbucks states that they will be increasing their hiring commitment to refugees, veterans, and military spouses by 2025 from January’s announcement of 10,000 to now 25,000.
However, Schultz’s decision to aid refugees affected by Trump’s travel ban received some backlash by several Trump supported and few conservative shareholders.
During the annual shareholder meeting, an investor, Justin Danhof expressed opposing views from Starbucks’s openness to being against Trump’s travel ban, which in turn was booed by the rest of the crowd. In response to the comment made by Danhof, Schultz replied stating that “it’s not about politics, but instead it’s about compassion.”
Schultz highlighted the company’s achievement of reaching 18,000% increase in shareholder returns since Starbucks’s IPO 25 years ago.
At the annual meeting, Schultz joined incoming CEO Kevin Johnson in highlighting the company’s record performance since the launching of its IPO 25 years ago. Within the shareholder meeting, both Schultz and Johnson emphasized the company’s past performances that led to “unparalleled shareholder returns, and strong pipeline of innovation for future growth across coffee, tea, food, digital, China and partner investments.”
“Every hour of every day, someone somewhere is walking into one of our 26,000 Starbucks stores in 75 countries around the world. As we approach our 25th year as a publicly traded company, the Starbucks brand is as relevant today as it has ever been, driven by the 330,000 people who proudly wear the green apron,” said Schultz.
As the chief executive discussed the company’s achievements throughout the years, he also introduced Johnson as the next CEO of the beloved coffee company, stating several of his qualities fit to take helm as the new Chief Executive.
Meanwhile Starbucks’s stock (NASDAQ: SBUX) gained 0.6% so far this year, closing at $55.89 per share on the previous trading session, up by 0.63%. Although the company’s stock has been not much of a best performer recently, many investors still advice not to sell the stock as it has a potential to pay off in the long term. And even though its recent earnings are not as good as its forecasts, it has still exhibited stable growth for 2018.
Starbucks’s ability to comply with its targets and initiatives has made it a great performer in the retail industry, given the 1.7% decrease in the industry’s status.
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