Overview of Starbucks Coffee Company Essay examples

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Overview of Starbucks Coffee Company

SENIOR MANAGEMENT TEAM
Howard Schultz
Chairman, President and Chief Executive Officer Cliff Burrows
President, Starbucks Coffee U.S. Martin P. Coles
President, Starbucks Coffee International Arthur Rubinfeld
President, Global Development

MISSION STATEMENT
To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow.

GUIDING PRINCIPLES
• Provide a great work environment and treat each other with respect and dignity.
• Embrace diversity as an essential component in the way we do business.
• Apply the highest standards of excellence to the purchasing, roasting and fresh delivery of our coffee.
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Starbucks does not offer a direct purchase plan.
If a person is interested in purchasing company stock, they must contact a licensed stockbroker. Starbucks has never paid a cash dividend and presently intends to retain earnings to help finance the Company's continued growth.

Financial Report Information

In 2008, Starbucks continued to experience declining comparable store sales in its US stores due to lower customer traffic. The US segment represents 76% of consolidated revenues for the company. For FY 2008, comparable store sales declined 5% in the US. The downward trend is due to consumers’ discretionary spending as well as factors within the Company’s control with respect to the pace of store openings in the US (Starbucks 2009). Even with the drop in sales, and the closing of 600 underperforming stores, Starbucks continues to meet its stated objectives by closing underperforming stores, expanding into profitable outlets, and continuing to listen to the consumer to come up with new ideas to increase customer loyalty (Starbucks 2009).
On March 18, 2009, Starbucks Coffee Company (NASDAQ:SBUX) held its Annual Meeting of Shareholders in Seattle where Howard Schultz, Chairman, President and CEO, outlined the company’s strategy to grow for the long term. “Despite the

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