beverage
New York (AFP) - Worker activists at Starbucks called for a strike at unionized coffee shops in the United States on Thursday as the labor group seeks to pressure the coffee giant on stalled contract talks. The employee walkout, dubbed "Red Cup Rebellion," was timed with a holiday-oriented company promotion that the labor group says is representative of company initiatives marred by understaffing and employee stress. About 360 Starbucks locations with more than 9,000 employees have voted to unionize in the United States, where the company has more than 10,000 company-owned stores. The union, S...
AFP
New York (AFP) - New York state sued PepsiCo on Wednesday, pointing to the soda giant's plastic waste as a scourge of waterways and blasting the company's "misleading" statements on the environment. The civil suit, filed by New York Attorney General Letitia James in the state Supreme Court, seeks a finding that PepsiCo contributed to a "public nuisance" in the Buffalo River; the imposition of financial penalties and compensatory damages on the company; and an order that PepsiCo cease the sale of single-use plastic on goods that do not warn of the environmental ills. "All New Yorkers have a bas...
AFP
New York (AFP) - Starbucks said Wednesday its former chief executive Howard Schultz will step down from the coffee chain's board of directors "as part of a planned transition." Schultz, who ended his third stint as CEO in March, helped transform the brand from a small coffee shop into an international chain over the decades. "I look forward to supporting this next generation of leaders to steward Starbucks into the future as a customer, supporter and advocate in my role as chairman emeritus," the longtime Starbucks leader said in a statement. In 2017, Schultz stepped aside as chief executive a...
AFP
New York (AFP) - Coca-Cola reported higher quarterly profits on Monday, boosted by price increases as it tweaks its product portfolio due to inflation in leading markets. Executives with the iconic soda brand described its home North American market as a "mixed bag," with inflation and higher mortgage rates countering low unemployment. While the company has benefited from the reopening of China's economy, they added that activity is still below pre-pandemic levels. And as higher consumer prices squeeze customers, Coca-Cola executives added in a call with analysts that some shoppers in Europe ...
AFP
New York (AFP) - Longtime Starbucks leader Howard Schultz defended the coffee chain's confrontational approach to unionization Wednesday, while insisting it had not violated US labor law in countering the campaign. The hearing, which got contentious at some points, was convened by progressive Senator Bernie Sanders, focusing on what the independent from Vermont called "illegal union busting." In his testimony, Schultz said he understood that workers have the right to unionize. But he argued that management-led efforts to persuade employees otherwise were also protected. "I have the right and t...
AFP
New York (AFP) - Longtime Starbucks leader Howard Schultz defended the coffee chain's confrontational approach to unionization Wednesday, while insisting it had not violated US labor law in countering the campaign. The hearing, which got contentious at some points, was convened by progressive Vermont independent Senator Bernie Sanders, focusing on what Sanders called "illegal union busting." In his testimony, Schultz said he understood that workers have the right to unionize. But he argued that management-led efforts to persuade employees otherwise were also protected. "I have the right and th...
AFP
New York (AFP) - Starbucks named Laxman Narasimhan, a veteran of PepsiCo and other consumer brands, as its next chief executive on Thursday. Narasimhan, who was most recently chief executive of Anglo-Dutch multinational Reckitt, will relocate to Seattle from London and join Starbucks on October 1, the company said in a news release. Following a stretch working with longtime Starbucks CEO and interim boss Howard Schultz, Narasimhan will take over the top spot on April 1, 2023. The transition comes as Starbucks navigates a burgeoning US unionization push following a difficult stretch for workers...
AFP
New York (AFP) - Starbucks reported lower quarterly profits Tuesday despite higher sales, as strong demand and price increases in North America mitigated the hit from Chinese lockdowns. Executives from the US coffee giant pointed to torrid growth in its home market that helped produce record quarterly revenues, even as operations in its biggest Chinese markets were halted for much of the quarter. The contrasting performance was starkly apparent in the numbers, with North American comparable sales jumping nine percent, while China's slumped 44 percent. Profit for the quarter ending June 27 was ...
AFP
New York (AFP) - Higher prices and a comeback in away-from-home sales helped Coca-Cola score solid quarterly profits Tuesday in spite of increased operating costs and the drag of the strong US dollar in international markets. Shares rose after the better-than-expected results, as executives described a relatively limited response to inflation thus far from shoppers. Among low-income consumers in developed markets, there are "some early signs of trading down... not necessarily in beverages yet," Chief Executive James Quincey said on a conference call. "But then if you're in the away-from-home ...
AFP
New York (AFP) - Starbucks said Monday it will cease operations in Russia, shuttering its 130 cafes in the country in the aftermath of the invasion of Ukraine. The move comes a week after another iconic US brand, McDonald's, also departed Russia, part of a wave of Western companies cutting the country off following the assault. "Starbucks has made the decision to exit and no longer have a brand presence in the market," the company said. "We will continue to support the nearly 2,000 green apron partners in Russia, including pay for six months and assistance for partners to transition to new opp...
AFP
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