10/27/13

Starbucks - Wikipedia, the free encyclopedia

Starbucks
From Wikipedia, the free encyclopedia

Starbucks Corporation is an American global coffee company and coffeehouse chain based in Seattle, Washington. Starbucks is the largest coffeehouse company in the world, with 20,891 stores in 62 countries, including 13,279 in the United States, 1,324 in Canada, 989 in Japan, 851 in the People's Republic of China, 806 in the United Kingdom, 556 in South Korea, 377 in Mexico, 291 in Taiwan, 206 in the Philippines, 179 in Turkey, 171 in Thailand, and 167 in Germany.[1] In addition, Starbucks is an active member of the World Cocoa Foundation. Starbucks locations serve hot and cold beverages, whole-bean coffee, microground instant coffee, full-leaf teas, pastries, and snacks. Most stores also sell packaged food items, hot and cold sandwiches, and items such as mugs and tumblers. Starbucks Evenings locations also offer a variety of beers, wines, and appetizers after 4pm.[3] Through the Starbucks Entertainment division and Hear Music brand, the company also markets books, music, and film. Many of the company's products are seasonal or specific to the locality of the store. Starbucks-brand ice cream and coffee are also offered at grocery stores. From Starbucks' founding in 1971 as a Seattle coffee bean roaster and retailer, the company has expanded rapidly. Since 1987, Starbucks has opened on average two new stores every day.[4] Starbucks had been profitable as a local company in Seattle in the early 1980s [5] but lost money on its late 1980s expansion into the Midwest and British Columbia. Its fortunes did not reverse until 1990 when it registered a small profit. By the time it expanded into California in 1991 it had become trendy.[6] The first store outside the United States or Canada opened in the mid-1990s, and overseas stores now constitute almost one third of Starbucks' stores.[7] The company planned to open a net of 900 new stores outside of the United States in 2009,[8] but has announced 300 store closures in the United States since 2008.[9]

Starbucks Corporation

Type Traded as

Public NASDAQ: SBUX (http://www.nasdaq.com/symbol/sbux) NASDAQ-100 Component S&P 500 Component Restaurants Coffee house Pike Place Market in Seattle, Washington (March 30, 1971) Jerry Baldwin Gordon Bowker Zev Siegl

Industry Genre Founded Founder(s)

Contents
1 History 2 Corporate governance 3 Products 4 Locations 5 Advertising 6 Parodies and infringements 7 Environmental and social policies 8 Controversy 9 Awards and honors 10 Music, film, and television 11 Parent company relationships 12 See also 13 References 14 Further reading 15 External links

Headquarters Seattle, Washington, U.S. Number of locations 20,891 in 62 countries (M arch 22,
2013)[1]

Area served Worldwide Key people Products Services Revenue Operating income Net income Total assets Total equity Howard Schultz
(Chairperson, President and CEO)

Coffee Tea Pastries Frappuccino beverages Smoothies Coffee US$ 13.29 billion (2012)[2] US$ 1.50 billion (2012)[2] US$ 1.38 billion (2012)[2] US$ 8.21 billion (2012)[2] US$ 5.10 billion (2012)[2] 149,000 (2011)[2] Starbucks Coffee Company Ethos water Evolution Fresh Hear Music La Boulange Bakery Seattle's Best Coffee Tazo Teavana Torrefazione Italia starbucks.com (http://starbucks.com)

History
Founding

Employees Subsidiaries

The first Starbucks opened in Seattle, Washington, on March 30, 1971 by three partners who met while students at the University of San Francisco:[10] English teacher Jerry Baldwin, history teacher Zev Siegl, and Website writer Gordon Bowker. The three were inspired to sell high-quality coffee beans and equipment by coffee roasting entrepreneur Alfred Peet after he taught them his style of roasting beans.[11] Originally the company was to be called Pequod, after a whaling ship from Moby-Dick , but this name was rejected by some of the co-founders. The company was instead named after the chief mate on the Pequod, Starbuck.[12] The first Starbucks cafe was located at 2000 Western Avenue from 19711976. This cafe was later moved to 1912 Pike Place Market; never to be relocated again.[13] During this time, the company only sold roasted whole bean coffees and did not yet brew coffee to sell.[14] During their first year of operation, they purchased green coffee beans from Peet's, then began buying directly from growers.

Sale and expansion

Interior of the Pike Place Market location in 1977.

In 1984, the original owners of Starbucks, led by Jerry Baldwin, took the opportunity to purchase Peet's.[15] During the 1980s total sales of coffee in the USA were falling, but sales of specialty coffee increased, forming 10% of the market in 1989, compared to 3% in 1983.[16] By 1986 the company had 6 stores in Seattle[16] and had only just begun to sell espresso coffee.[17] In 1987, the original owners sold the Starbucks chain to former employee Howard Schultz, who rebranded his Il Giornale coffee outlets as Starbucks and quickly began to expand. In the same year, Starbucks opened its first locations outside Seattle at Waterfront Station in Vancouver, British Columbia, and Chicago, Illinois.[18] By 1989 there were 46 stores across the Northwest and Midwest in 1989 and Starbucks was roasting over 2,000,000 pounds (907,185 kg) of coffee a year.[16] At the time of its initial public offering on the stock market in June 1992, Starbucks had grown to 140 outlets and had a revenue of $73.5m, up from $1.3m in 1987. Its market value was $271m. The 12% portion of the company sold raised the
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