Starbucks To Hire More Vets, Confirms Expansion Plans
Mar 23, 2017, 01:58
Starbucks Corp. plans to hire more USA military veterans and their spouses after facing backlash over its promise to hire refugees.
The company surpassed its goal to hire 10,000 veterans and military spouses by the 2018 deadline, and now plans to increase its hiring goal to 25,000 by 2025.
Starbucks announced plans to hire 240,000 people for jobs around the globe by 2021.
The military hiring plans come amid protests from conservative groups over the company's hiring plans.
The chain drew boycott threats earlier this year after saying it would hire 10,000 refugees globally - a response to President Donald Trump's proposed ban on travelers from certain nations.
Outgoing Starbucks president and CEO Howard Schultz said there's no reason to worry about the company, despite the fact that this is one of the few times Starbucks shares have not increased over the year. "They have skills, leadership, integrity, and not an ounce of entitlement".
"From conversations and [store] checks I've made, we're seeing a bit of acceleration as the quarter progresses", Setyan added.
Starbucks, the world's largest coffee retailer, Wednesday announced plans to hire 15,000 additional veterans. The think tank vowed to question Schultz about this agenda at the meeting.
Schultz said that Starbucks continues to play for the long term.
In Danhof's view, the decision was politically biased and potentially costly for shareholders. Meanwhile, the data firm Sense360 said that visits to Starbucks fell by 9.3 percent in February when compared with the period before Christmas.
Schultz noted that someone who invested $1,000 in 1992, at Starbucks initial-public offering, would have $180,000 today.
He said he plans to continue his efforts on youth development, veterans' issues and homelessness through the Schultz Family Foundation. It's now opening one store per day in China, and Starbucks recently entered the Italian market.
In support of military communities, the chain also said it's opening 100 more locations near major US bases in the next five years. The chain has 26,000 locations globally.
Schultz also touted Starbucks' opportunities in China, where the company's new stores are posting some of the best performances in a generation. It will begin selling a new line of grab-and-go salads and sandwiches, dubbed "Mercato", in Chicago next month.
The menu, called "Mercato", initially will launch in about 100 stores in the city, but Starbucks said it expects to expand to other USA markets in the future.
Those plans follow the chain's launch of Sous Vide Egg Bites.
"Certainly, I think transitions from founders are particularly unique and sometimes challenging transitions to execute", he said. "We're adding capacity to not only catch up, but keep up, with consumer demand". Starbucks also is trying to lure more diners with a gluten-free breakfast sandwich and vegan bagel.
Johnson said Starbucks has already deployed measures to improve the customer experience and reduce congestion inside its stores.
Addressing Starbucks' recent hiccups with its mobile ordering platformand the stock's downtrend, Schultz said he was confident that the company would bounce back. It is expanding its My Starbucks barista program, which enables voice command on the mobile app.
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