Starbucks
Global chain of coffee
shops.
Headquarters:
2401 Utah Avenue South
Seattle, WA 98134
Employees: 142,000
CEO: Howard Schultz
Stock Symbol: SBUX
Website:
http://www.starbucks.com
Career Site
Starbucks operates the world's leading coffee chain. At the end of 2009, the company had 16,709 locations worldwide with 11,181 in the U.S.
Starbucks stores are a great place for people to relax, meet others and surf the Internet with wireless connections provided by AT&T.
In addition to sales through company-operated
retail stores, Starbucks sells whole bean coffees through a specialty
sales group and supermarkets. Additionally, Starbucks produces
and sells bottled Frappuccino coffee drink and a line of premium
ice creams through its joint venture partnerships and offers
a line of innovative premium teas produced by its wholly owned
subsidiary, Tazo Tea Company.
Starbucks plans to open 100 net new stores in the U.S. in 2010 and approximately 200 net new stores in International markets.
In fiscal 2009, the company reported revenues of $9.7 billion and net income of $390.8 million.
History
Starbucks opened its first location in
Seattle's Pike Place Market in 1971. Now Chairman Howard Schultz
joined Starbucks in 1982 as Director of Marketing. Schultz visited
Italy and noticed the popularity of espresso bars there. He thought
this would be a great idea in the Seattle area and convinced
Starbucks to open a coffee shop in downtown. Schultz founded
his own coffee company and acquired Starbucks' name and assets
from its founders in 1987. The company had just 17 stores but
would soon grow quickly and went public in 1992.
Starbucks' popularity soared as it opened
coffee shops within Barnes and Noble bookstores. It also provided
coffee for United Airlines and shops in Starwood hotels. The
company's focus on quality and commitment to social causes and
the community have made it one of the world's most admired businesses.
Starbucks stopped selling breakfast sandwiches in 2008 to focus on coffee. In April 2008, Starbucks introduced new line of regular coffee called Pike's Place Roast.
In January 2008, Starbucks founder Howard Schultz returned to take over the CEO position that he previously held in 2000. Overexpansion and the weak economy have hurt sales. The company closed 600 underperforming stores in 2008 and an additional 300 stores in 2009.
Benefits
Starbucks has ranked among the Best Companies to Work for according to Fortune Magazine. Employees receive health insurance for working just 20 hours per week.
Other benefits employees are offered include:
- Progressive Compensation Package
- Healthcare Benefits (Medical, Prescription Drugs, Dental and
Vision)
- Retirement Savings Plan
- Stock Options and Discounted Stock Purchase Plan
- Income Protection Plan (Life and Disability Coverage)
- Management Bonus Plan
- Adoption Assistance Plan
- Domestic partner benefits
- Referral programs and support resources for child and eldercare
- Discounted Starbucks merchandise
All employees receive a free pound of coffee each week.
Updated January 22, 2010
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