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Starbucks

Global chain of coffee shops.

Headquarters: 2401 Utah Avenue South
Seattle, WA 98134
Employees: 172,000
CEO: Howard Schultz
Stock Symbol: SBUX

Website: http://www.starbucks.com

Career Site

Starbucks has blanketed the world with its stores selling fresh brewed coffees and espressos that millions of people can't live without everyday. Stores also sell premium teas, iced coffees and pastries.

As of March 30, the company had 16,226 locations worldwide with 11,434 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 T-Mobile and 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.

In fiscal 2007, there were 2,571 new store openings; 70 percent in the U.S. and 30 percent in International markets.

In January, Starbucks founder Howard Schultz took over the CEO position that he previously held in 2000. Rapid growth and new store openings have hurt sales at existing stores. Schultz said the company will close 600 underperforming stores this year resulting in the loss of 12,000 full- and part-time jobs.

Starbucks also said it would stop selling breakfast sandwiches by the end of the year to focus on coffee. In April, Starbucks introduced new line of regular coffee called Pike's Place Roast.

In fiscal 2007, Starbucks generated $9.4 billion in revenues and net income of $673 million.

The company was named one of the 100 Best Companies to Work For by Fortune magazine.

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.

Benefits

Starbucks has consistently 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 July 4, 2008