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COMPANY PROFILE

Starbucks Corporation

REFERENCE CODE: E86AFA79-07E1-4115-AA0C-0016416541FE


PUBLICATION DATE: 9 May 2014
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Starbucks Corporation
TABLE OF CONTENTS

TABLE OF CONTENTS
Company Overview..............................................................................................3
Key Facts...............................................................................................................3
Business Description...........................................................................................4
History...................................................................................................................6
Key Employees...................................................................................................14
Key Employee Biographies................................................................................16
Major Products and Services............................................................................24
Revenue Analysis...............................................................................................26
SWOT Analysis...................................................................................................27
Top Competitors.................................................................................................36
Company View.....................................................................................................37
Locations and Subsidiaries...............................................................................40

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Starbucks Corporation
Company Overview

COMPANY OVERVIEW
Starbucks Corporation (Starbucks or the company) is a premier roaster, marketer and retailer of
specialty coffee. The company operates in 62 countries across North America, Asia Pacific, the
Europe, Middle East and Africa (EMEA), and Latin America. Starbucks is headquartered in Seattle,
Washington and employed approximately 182,000 people as of September 29, 2013.
The company recorded revenues of $14,892.2 million in the financial year ended September 2013
(FY2013), an increase of 12% over FY2012. The operating loss of the company was $325.4 million
in FY2013, compared to an operating profit of $1,997.4 million in FY2012. The net profit was $8.3
million in FY2013, compared to the net profit of $1,383.8 million in FY2012.

KEY FACTS
Head Office

Starbucks Corporation
2401 Utah Avenue South
Seattle
Washington 98134
USA

Phone

1 206 447 1575

Fax
Web Address

http://www.starbucks.com/

Revenue / turnover 14,892.2


(USD Mn)
Financial Year End

September

Employees

182,000

NASDAQ Global
Select Ticker

SBUX

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Starbucks Corporation
Business Description

BUSINESS DESCRIPTION
Starbucks is a global coffee retail chain that specializes in coffee and other related beverages. The
company purchases, roasts and sells whole bean coffees along with handcrafted coffee, tea and
other beverages and a variety of fresh food items, through its 19,767 retail stores in 62 countries.
The company also sells a variety of coffee and tea products and licenses its trademarks through
other channels such as licensed stores, grocery and national foodservice accounts. Some of the
key brands under which the company offers its products include Starbucks, Teavana, Tazo Tea,
Seattles Best Coffee, Starbucks VIA Ready Brew, Starbucks Refreshers (beverages), Evolution
Fresh, La Boulange (bakery products) and Verismo (coffee makers).
The company operates through four segments: the Americas, channel development, EMEA and
China/Asia Pacific (CAP).
Across the Americas, EMEA and CAP regions, Starbucks sells coffee and other beverages,
complementary food, packaged coffees, single serve coffee products and a selection of merchandise
through company-operated stores and licensed stores. The Americas and EMEA segments also
include foodservice accounts, primarily in Canada and the UK. The Americas segment also includes
the companys La Boulange stores.
The channel development segment sells whole bean and ground coffees as well as a range of
premium Tazo teas and Starbucks and Tazo-branded single serve products, globally. The segment
also produces and sells a variety of ready-to-drink beverages, such as Starbucks Refreshers
beverages, and other branded products through various channels including grocery stores, warehouse
clubs, specialty retailers, convenience stores, and US foodservice accounts.
In terms of revenue generation, the company has four channels: company-operated stores, licensed
stores, consumer packaged goods (CPG) and foodservice operations.
Starbucks company-operated retail stores are located in high-traffic, high-visibility locations, such
as downtown and suburban retail centers, office buildings, university campuses, and in select rural
and off-highway locations. The company also operates drive-thru retail stores to provide a greater
degree of access and convenience for its non-pedestrian customers. The company-operated stores
offer a choice of regular and decaffeinated coffee beverages, a wide range of Italian-style espresso
beverages, cold blended beverages, iced shaken refreshment beverages, premium teas, roasted
whole bean and ground coffees, a variety of Starbucks VIA Ready Brew soluble coffees, Starbucks
coffee and Tazo tea K-Cup portion packs, and Starbucks Refreshers beverages. The
company-operated stores also offer a variety of fresh food items, such as pastries, prepared breakfast
and lunch sandwiches, oatmeal and salads, as well as juices and bottled water. The
company-operated stores also sell a variety of beverage-making equipment and accessories apart
from providing free access to wireless internet. By the end of FY2013, the company had a total of
10,194 company-operated stores across the world.

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Starbucks Corporation
Business Description

The licensed-stores are operated in combination with the companys local partners, while each of
them leverages the respective operating and store development experiences. As part of licensing
agreements with prominent retailers in the market, the company receives royalties and license fees
and sells coffee, tea and related products for resale in licensed locations. For Teavana and Seattle's
Best Coffee brand, as well as Starbucks in the UK, the company uses traditional franchising. By the
end of FY2013, the company had 5,415 licensed stores in the Americas, 1,116 in the EMEA region
and 2,976 in the CAP region. It also had 28 Teavana stores and 38 Seattle's Best Coffee stores.
CPG includes both domestic and international sales of packaged coffee and tea as well as a variety
of ready-to-drink beverages and single-serve coffee and tea products to various retail channels such
as grocery, warehouse club and specialty retail stores. It also includes revenues from product sales
to and licensing revenues from manufacturers that produce and market Starbucks and Seattles
Best Coffee branded products through licensing agreements.
Through the foodservice channel, the company sells Starbucks and Seattle's Best Coffee whole
bean and ground coffees, a selection of premium Tazo teas, Starbucks VIA Ready Brew, and other
coffee and tea related products to institutional foodservice companies that service business and
industry, education, healthcare, office coffee distributors, hotels, restaurants, airlines and other
retailers. The company also sells the Seattle's Best Coffee branded products through arrangements
with national accounts. Key customers in this channel are SYSCO Corporation, US Foodservice,
and other distributors.

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Starbucks Corporation
History

HISTORY
Starbucks was founded in the early 1970s; it opened its first location in Seattle's Pike Place in 1971.
Starbucks began providing coffee to restaurants and espresso bars in 1982. The company introduced
Starbucks Christmas Blend in 1984. With the backing of local investors, Il Giornale, a coffeehouse
chain, acquired Starbucks' assets and changed its name to Starbucks Corporation in 1987. In the
same year, the company also opened its stores in Chicago and Vancouver, Canada.
Starbucks became the first privately-owned US company to offer a stock option program that included
part-time employees, in 1991. In the following year, it completed initial public offering with common
stock being traded on the NASDAQ National Market under the symbol SBUX.
Starbucks began selling compact discs in 1995. In the same year, the company opened a roasting
facility in York, Pennsylvania and formed an alliance with the Canada-based Chapters Bookstore,
to make its coffee available at the bookstore. Starbucks partnered with Pepsi-Cola North America
to sell bottled Frappuccino coffee drink in 1996 and, later in the same year, the company opened
its first store in Japan.
In 1997, Starbucks formed an alliance with eight companies expanding its book-store offering through
the All Books for Children book drive. In the same year, the company introduced Starbucks Barista
home espresso machine.
The company signed a licensing agreement with Kraft Foods (now Mondelez International) in 1998
to extend the Starbucks brand into grocery channels across the US. Later in the year, the company
acquired Tazo, a tea company based in Portland, Oregon. The company also launched its website
www.starbucks.com in 1998.
Starbucks acquired Hear Music, a San Francisco-based music company, in 1999. In the same year,
Starbucks partnered with Conservation International to promote sustainable coffee growing practices.
In 2000, Starbucks established a licensing agreement with TransFair USA for the sale of Fairtrade
certified coffee in the US and Canadian markets.
The company introduced the Starbucks Card, a stored-value card for customers to use and reload,
in 2001. In the following year, the company introduced Starbucks DoubleShot espresso drink in the
ready-to-drink category. Later in 2002, the company launched its high-speed wireless internet service
branded TMobile HotSpot in the US stores.
During 2003, Starbucks enhanced its portfolio with the acquisition of Seattle Coffee. This included
the Seattle's Best Coffee and Torrefazione Italia Coffee brands. The company continued its global
expansion in early 2004 with the opening of the first Starbucks store in Paris. The company also
opened Starbucks Coffee Agronomy in San Jose, Costa Rica in the same year. Further in 2004,
Starbucks Coffee, a Starbucks subsidiary, and Jim Beam Brands, a unit of Fortune Brands (now

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History

Beam), entered into an agreement to develop, manufacture and market a Starbucks-branded coffee
liqueur product in the US. Later in the year, Seattle's Best Coffee signed a licensing agreement with
Borders Books & Music to open Seattle's Best Coffee cafes in more than 400 existing and new
Borders stores in the continental US and Alaska.
Starbucks acquired Ethos Water, a privately held bottled water company based in Santa Monica,
California, in 2005. In the following year, Starbucks acquired full ownership of Coffee Partners Hawaii,
a joint-venture company that operated its retail stores in Hawaii. The company also acquired full
ownership of Cafe del Caribe, the joint-venture company that operated its retail stores in Puerto
Rico. The company also acquired majority ownership of operations in Beijing and Tianjin from H&Q
Asia Pacific and other shareholders of High Grown Investment Group.
The company and its European joint venture partner, Marinopoulos Holding SARL, opened the first
Starbucks store in Bucharest in 2007. In the same year, Starbucks launched its new ready-to-drink
coffee beverage, Starbucks Discoveries, in South Korea. The company also formed a music
partnership with Apple in late 2007.
Starbucks acquired The Coffee Equipment Company and its proprietary Clover brewing system in
2008. In the same year, Starbucks was ordered to pay California Baristas more than $100 million
for violation of the California Labor Code (in connection with a class-action lawsuit filed in 2004). In
mid-2008, Starbucks and SSP, one of the leading companies in beverage and food concessions for
travelers in Europe, collaborated to form a strategic licensing partnership to open more than 150
Starbucks stores in prime travel channels in key European markets.
In 2009, a class-action lawsuit was filed against Starbucks by an employee for laptop data breach.
Subsequently, Starbucks and Kraft Foods announced plans to launch packaged Starbucks coffee
products in France and Germany markets. Later in the year, the company and Microsoft and the
National Broadcasting Company (MSNBC) formed a marketing relationship to highlight Starbucks
coffee products on Morning Joe, the cable networks morning program. The program features
interviews with top newsmakers and politicians and in-depth analysis of the days biggest stories.
In 2009, Starbucks recalled its coffee grinder products due to laceration hazard issues faced by
consumers. Also in 2009, the company launched Just Pure Flavor, an innovation for fresh brewed
coffee that offers customizable flavor by the cup.
In early 2010, the company announced plans to enter the ready-to-drink coffee category in Europe.
Additionally, Starbucks also signed an agreement with Arla Foods for the manufacture, distribution
and marketing of Starbucks-branded premium ready-to-drink coffee beverages in Europe.
Subsequently, Starbucks recalled its glass water bottles due to laceration hazard.
Starbucks and Macs Convenience Stores (Mac), a subsidiary of Alimentation Couche-Tard, entered
into a long term agreement in 2010. As per this agreement, Mac will expand the product offering of
Starbucks Seattles Best Coffee brew from its then 290 convenience stores across four provinces
in Western Canada to another 600 locations across Ontario, Canada.

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Further in 2010, Starbucks and Arla Foods entered into an agreement to offer Starbucks-branded
ready-to-drink beverages in Europe and the UK, and introduce Starbucks Discoveries chilled coffee
and Starbucks Doubleshot espresso drink in the UK and German markets. In the same year, the
company launched Starbucks VIA coffee essence in Japan.
The company entered into an agreement with Ajinomoto General Foods in 2010. Under the agreement,
Ajinomoto General Foods would sell the companys instant coffee and other products for home
consumption at supermarkets and other retailers in Japan. Later in the same year, Starbucks acquired
100% interest in Cafes Sereia do Brasil Participacoes, a Brazil-based owner and operator of cafes,
in line with its commitment to grow its international business. The company also acquired the
remaining 50% stake of Magic Johnson Enterprises in Urban Coffee Opportunities. During the same
year, Starbucks discontinued its agreement with Kraft Foods and assumed full responsibility for the
sales and distribution of its packaged coffee products.
Starbucks and Tata Coffee signed a non-binding memorandum of understanding in early 2011 to
collaborate for sourcing and roasting green coffee beans at Tata Coffee's Coorg facility in India.
Around the same time, Starbucks launched mobile payment facility in all of its US company-operated
stores. The facility allowed customers to pay for their in-store purchases through select smart phones.
The company entered into an agreement with Courtesy Products (one of the leading providers of
in-room coffee service to hotels in the US) to offer Starbucks ground coffees in approximately 500,000
luxury and premium hotel rooms across the US. Later in 2011, Seattle's Best Coffee and Delta Air
Lines entered into an agreement to offer Seattle's Best Coffee in Delta Air Lines domestic and
international flights.
Also in 2011, Starbucks entered into a strategic partnership with Green Mountain Coffee Roasters
(GMCR), a producer of specialty coffee and coffee makers, to manufacture, market, distribute and
sell Starbucks and Tazo Tea branded K-Cup portion pack for use in GMCRs Keurig Single-Cup
brewing system. The company also launched the following new product offerings globally: Cocoa
Cappuccino, Starbucks Petites, Starbucks Tribute Blend and Starbucks VIA Ready Brew Tribute
Blend. Further in 2011, Starbucks, with joint venture partner Corporacion de Franquicias Americanas,
opened its first store in Guatemala. The company also introduced its latest additions to Starbucks
Digital Network in partnership with Yahoo! in the same year.
The company launched its Starbucks VIA Ready Brew product at all of its stores in China in 2011.
Around the same time, the company opened its first fully-owned Starbucks store in Amsterdam, the
Netherlands. With this new store, the company marked the start of a phased entry into high street
locations in Amsterdam. Later in 2011, Starbucks launched its However-You-Want-It Frappuccino,
a line of personalized blended beverages, globally. Prior to the global launch, these blended beverages
were sold only in the US and Canada.
Starbucks, along with Arla Foods, launched Starbucks premium ready-to-drink iced coffees, Starbucks
Iced Latte, Starbucks Doubleshot Espresso and Milk and Starbucks Bottled Frappuccino drinks on
grocery shelves and in convenience stores throughout Finland in 2011. Additionally, the company
expanded the availability of its Seattles Best Coffee to more than 50,000 locations across the US
and Canada.

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Further in 2011, Starbucks signed a contractual agreement with Maxims Caterers, its long time
joint-venture partner in South China, including Hong Kong and Macau, to acquire a 100% equity of
its business in the Chinese provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei, and the
municipality of Chongqing. Following this, the company acquired full control of more than half of the
Starbucks retail stores in Mainland China, Hong Kong and Macau markets. The company launched
the Starbucks for Android mobile application providing more consumers access to the fastest way
to pay and other features to manage their Starbucks Card on-the-go. The company also launched
Starbucks for iPhone, an application that introduces its Card eGift feature on a mobile device for the
first time and also combines the features of its two applications for iPhone and iPod touch,
myStarbucks and Starbucks Card Mobile.
In an attempt to develop Chinas Yunnan Province as a coffee growing region, Starbucks signed a
memorandum of understanding with Ai Ni Group, one of Yunnan Provinces most established coffee
operators and agricultural companies. As part of this, Starbucks and Ai Ni Group formed a joint-venture
company that will purchase and export Arabica Yunnan coffee beans, as well as operate dry mills
in the Yunnan Province. Additionally, in line with its strategy to focus on its international businesses,
the company acquired 100% ownership and operating control of Starbucks Coffee Switzerland and
Starbucks Coffee Austria through the acquisition of its joint-venture partner Marinopoulos Holdings
shares in Starbucks-Marinopoulos Holdings B.V.
Later in 2011, the company announced the expansion of its Starbucks VIA Ready Brew coffee to
six additional countries in Asia. Following the announcement, Starbucks stores in South Korea,
Indonesia, Malaysia, Singapore, Thailand and Australia will carry Starbucks VIA Ready Brew in
Colombia and Italian Roast flavors. In the same year, Seattles Best Coffee announced the addition
of two more new locations. The two newest cafes form a part of nearly 100 Seattles Best Coffee
retail locations in the US and Canada.
In an effort to strengthen its presence in the health and wellness space, Starbucks acquired Evolution
Fresh, a US-based company that produces artisanal super-premium fruit juices, fresh-cut fruits and
vegetables and gourmet soups and salsas, in 2011. Towards the end of 2011, Starbucks expanded
its presence in Mainland China with the opening of new stores in five new cities: Langfang (Hebei
Province), Zhengzhou (provincial capital of Henan Province), Harbin (provincial capital of Heilongjiang
Province), Xiangtan (Hunan Province) and Zhoushan (Zhejiang Province). During the same time,
Starbucks, in partnership with Alshaya Morocco (a subsidiary of M.H.Alshaya), opened two new
stores in Morocco.
In the beginning of 2012, the company launched Organic Ethiopia Sidamo coffee, one of the worlds
well-known coffees for its distinctive lemon flavors. Around the same time, Autogrill Group and
Starbucks, which started their co-operation in the US in 1991, extended their global partnership to
develop new business in Europe. Starbucks entered into a strategic partnership with Tata Global
Beverages Limited to enter the Indian coffee retail market. As part of the 50:50 joint venture named
TATA Starbucks Limited, Tata Global Beverages will own and operate Starbucks cafes in various
cities across India, which will be branded as Starbucks Coffee A Tata Alliance. Besides this, the
company also signed a separate sourcing and roasting agreement with Tata Coffee Limited, according

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to which Tata Coffee Limited will roast coffee to supply TATA Starbucks Limited, and export to
Starbucks Coffee Company.
Further in 2012, the company entered into a partnership with Target Canada, the Canadian arm of
the US-based retailer, according to which the majority of Target retail stores across Canada will
feature Starbucks licensed stores. During the same time, Starbucks and its licensed partner, SSP
opened Norway's first Starbucks Coffeehouse at the Oslo Airport.
Starbucks opened its first concept store in Europe in the center of Amsterdam in 2012. The company
introduced the Verismo system by Starbucks, its first at-home premium single cup machine, in the
same year. The company also introduced the first Evolution Fresh store and renovated the brands
look to reflect the pure, natural ingredients in each beverage. The new store opening and refreshed
branding positions Evolution Fresh as a leader in the $3.4 billion and growing cold-crafted juice
category and furthers its commitment to evolve and enhance the customer experience with innovative
and wholesome products. In an initiative to cater to the needs of its on-the-go customers, the company
launched its first drive-thru store in Chicago. Through the new store, the company offers coffee
beverages, freshly-baked food items and other car-friendly sandwiches and snacks. Also in the same
year, Starbucks and GMCR expanded their strategic relationship for the manufacturing, marketing,
distribution and sale of Starbucks-branded Vue packs for use in GMCRs newly-introduced Keurig
Vue Brewer.
In the second quarter of 2012, Starbucks announced the limited release of Starbucks Reserve
Organic Galapagos San Cristobal Coffee at select Starbucks retail locations. This selection is
harvested from the farm Hacienda El Cafetal, which only produces a small lot of 4,000 bags of
coffee each year. During the same time, Starbucks and Walt Disney Parks and Resorts announced
that Starbucks will be available at all Disney theme parks at Disneyland Resort in Anaheim, California,
and Walt Disney World Resort in Lake Buena Vista, Florida. The company announced the availability
of Evolution Fresh bottled beverages at select Starbucks locations in Seattle.
Starbucks launched two new Frappuccino beverages for the summer, Mocha Cookie Crumble and
Chocolate Cookie Crumble Creme, in 2012. In the same year, the company announced the opening
of its first store in Finland at Helsinki Airport. In mid-2012, Starbucks entered into a definitive
agreement to acquire San Francisco-based Bay Bread and its La Boulange bakery brand, and to
hire French baker Pascal Rigo. Around the same time, Coinstar and Seattles Best Coffee signed
an exclusive agreement to roll out Coinstars new Rubi coffee kiosk in the grocery, drug and mass
merchant retail channels featuring Seattles Best Coffee beverages.
Later in 2012, Starbucks began construction of its first company-owned manufacturing facility in the
world to produce soluble products in Georgia. The company launched its handcrafted Starbucks
Refreshers beverages, made from green coffee extract and real fruit juice around the same time.
The company made Starbucks Refreshers beverages available in Very Berry Hibiscus and Cool
Lime flavors at participating Starbucks stores in the US and Canada, as well as 15 markets
internationally. Subsequently, Starbucks acquired 100% ownership interest in Bay Bread and its La
Boulange bakery brand. This acquisition further expanded the companys food offering. In the third
quarter of 2012, the company signed a new partnership with Selecta, a vending services company,

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History

to launch Starbucks Office Coffee in Switzerland. During the same time, Starbucks and Umoe
Restaurant Group, one of the largest chains of service establishments in Scandinavia, signed a
strategic partnership to open Starbucks stores across the Scandinavian region. In the same year,
Tata Starbucks Limited, the 50:50 joint venture between Starbucks and Tata Global Beverages
Limited, opened the first Starbucks store in India.
Towards the end of 2012, Seattles Best Coffee opened a new small footprint drive-thru and walk-up
only store in Seattle. Around the same time, Starbucks acquired Teavana Holdings, a specialty tea
and tea accessory retailer. The acquisition is the newest addition to Starbucks emerging brands
portfolio, which also includes Evolution Fresh, La Boulange, Seattles Best Coffee and Tazo.
Starbucks opened its first store in Vietnam, following an expanded long-term relationship with Hong
Kong Maxims Group, in January 2013. In the following month, Starbucks and Tata Coffee Limited
opened a roasting and packaging plant in Karnataka, India. This new facility enables roasting and
packaging of green coffee beans for Starbucks stores in India and over time in select markets around
the world. Further in the same month, Seattles Best Coffee and Inventure Foods, a specialty food
manufacturer, entered into a partnership to launch Seattles Best Coffee Frozen Coffee Blends, the
first blend-at-home frozen coffee beverage, across grocery stores and mass retailers within the US.
In April 2013, Starbucks announced plans to open 100 new stores in Indonesia over the next three
years and another 100 stores in the Philippines over the next four years, to expand its presence in
Southeast Asia. In May 2013, Starbucks and GMCR expanded their strategic partnership for the
manufacturing, marketing, distribution and sale of Starbucks and Tazo-branded single serve packs
for use in GMCRs Keurig single serve brewing systems globally. In the same month, the company
launched its first Starbucks community store outside of the US, in the Langsuan neighborhood of
Bangkok, Thailand. Approximately 10% of sales from Starbucks hand-crafted beverages at this store
will be directed to the farming communities of Northern Thailand. Further in May 2013, Seattle's
Best Coffee opened 10 drive-thrus throughout Dallas/Fort Worth.
The company introduced calorie information on menu boards at all company-operated and licensed
US Starbucks stores in June 2013. The menu board labeling and pastry case calorie labeling
complements the food and beverage transparency the company provides to customers through
printed brochures, a nutrition tab on Starbucks.com and through the Starbucks Mobile App for iPhone.
In the same month, Starbucks announced plans to open 100 new stores in Malaysia over the next
four years. In July 2013, the company and Danone, a producer of fresh dairy products, announced
a strategic agreement to offer a jointly created and developed range of new, healthy specialty yogurt
products in Starbucks stores and in grocery channels. This agreement will expand Starbucks health
and wellness offerings for its customers under the Evolution Fresh brand. In the same month,
Starbucks selected Google to provide the next generation of its Wi-Fi offering for its customers.
In August 2013, the company along with Salling, a Dansk Supermarked department store, opened
the first Starbucks store in Jutland. These companies plan to open additional stores in Denmark,
the fourth biggest coffee consuming country in the world. In the same month, Starbucks announced
plans to open its first cafe in Colombia by 2014. Starbucks stores in Colombia will be operated
through a joint venture between two of Starbucks business partners in the Latin America regionAlsea

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and Grupo Nutresa. Further in August 2013, the company launched its Evolution Fresh cold-pressed
juice and Evolution Harvest snacks for the first time at Whole Foods Market, a supermarket in the
US.
The company opened two flagship stores in China and a new store within the Galeries Lafayette
department store in Paris in September 2013. In October 2013, Starbucks opened a new Evolution
Fresh juicery in Rancho Cucamonga, California, featuring the most advanced technology, including
High Pressure Processing (HPP) machines. This facility will increase the brands production of
cold-pressed, never-heated juice by four times. Tata Starbucks created a special India sourced
coffee, India Estates Blend, marking its first anniversary in the Indian market.
La Boulange Cafe & Bakery voluntarily initiated a product recall of 75 Soft Caramel Jams in 8.4 oz.
jars as a precautionary measure in November 2013. This product was sold exclusively in 20 La
Boulange Cafe & Bakery stores in the San Francisco Bay area. The recall was initiated after it was
discovered by the company that the product was inadvertently mislabeled and filled with Hazelnut
Jam (containing undeclared hazelnut). In December 2013, Starbucks, in partnership with Tar.Ca,
opened its first store in Monaco.
In January 2014, the company expanded its latte portfolio with the launch of the new handcrafted
Starbucks caramel flan latte and Starbucks VIA Vanilla Latte and Caffe Mocha in Starbucks stores
across the US and Canada. In the same month, Starbucks Canada launched Tweet-a-Coffee, the
first Twitter gifting program. Through this program, registered Starbucks account customers across
Canada can send a $5 Starbucks Card eGift through Twitter. Starbucks also launched New Reserve
Ethiopia Sun-Dried Yirgacheffe coffee in January 2014.
Bodum USA recalled 28,000 coffee presses sold exclusively at Starbucks due to the risk of laceration
and burn hazards, in January 2014. Further in the month, the company released an update to its
iOS app that protects customer's personal information stored on the phone.
In February 2014, Evolution Fresh initiated a voluntary product recall of approximately 1,700 bottles
of organic sweet greens and ginger juice sold by grocery retailers in California and Nevada as a
small number of these juices with best by dates of March 2, 2014 were swollen. In the same month,
TAZO announced the launch of three organic teas, Organic Earl Grey Noir, Organic Earl Grey Blanc
and Organic Sultry Strawberry, exclusively at Whole Foods, a natural and organic foods supermarket
chain.
Gretchens Shoebox Express initiated a voluntary recall of a small number of Greek yogurt raspberry
and lemon parfaits sold under the Starbucks brand in Seattle and Portland, in March 2014. The
products were recalled due to the presence of eggs, an allergen. In the same month, Keurig Green
Mountain and Starbucks Coffee Company amended terms to their existing five-year agreement. The
companies updated their agreement to continue to expand Starbucks range of K-Cup pack offerings
and to promote expanded consumer choice as Keurig continues to build its Keurig brewing system.
In exchange for eliminating the super-premium coffee exclusivity terms of the existing agreement
Starbucks will receive improved business terms, including significantly expanded Starbucks K-Cup
pack and variety types.

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Seattles Best Coffee, a part of Starbucks Coffee Company, was launched in select partner cafes
in the UK, in April 2014.

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Starbucks Corporation
Key Employees

KEY EMPLOYEES
Name

Job Title

Board

Howard Schultz

Chairman, President and Chief


Executive Officer

Executive Board

William W. Bradley

Director

Non Executive Board

238335 USD

Robert M. Gates

Director

Non Executive Board

239996 USD

Mellody Hobson

Director

Non Executive Board

239996 USD

Kevin R. Johnson

Director

Non Executive Board

239996 USD

Olden Lee

Director

Non Executive Board

239996 USD

Joshua Cooper Ramo

Director

Non Executive Board

239996 USD

James G. Shennan, Jr.

Director

Non Executive Board

239996 USD

Clara Shih

Director

Non Executive Board

239996 USD

Javier G. Teruel

Director

Non Executive Board

239996 USD

Myron E. Ullman, III

Director

Non Executive Board

233446 USD

Craig E. Weatherup

Director

Non Executive Board

233446 USD

Scott Maw

Executive Vice President and Chief Senior Management


Financial Officer

Troy Alstead

Chief Operating Officer

Senior Management

3022298 USD

Clifford Burrows

Group President, the Americas,


EMEA and Teavana

Senior Management

3546534 USD

John Culver

Group President, CAP, Channel


Senior Management
Development and Emerging Brands

3805045 USD

Arthur Rubinfeld

Chief Creative Officer and President, Senior Management


Global Development and Evolution
Fresh Retail

Blair Taylor

Chief Community Officer and


Executive Vice President, Partner
Resources

Senior Management

Adam Brotman

Chief Digital Officer

Senior Management

Curt Garner

Chief Information Officer

Senior Management

Sharon Rothstein

Global Chief Marketing Officer

Senior Management

Matthew Ryan

Global Chief Strategy Officer

Senior Management

Lucy Lee Helm

Executive Vice President, General


Counsel and Secretary

Senior Management

Michael Conway

Executive Vice President, Global


Channel Development

Senior Management

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Compensation
17242507 USD

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Starbucks Corporation
Key Employees

Name

Job Title

Board

Deverl Maserang

Executive Vice President, Global


Supply Chain

Senior Management

Vivek Varma

Executive Vice President, Public


Affairs

Senior Management

Craig Russell

Executive Vice President, Global


Coffee

Senior Management

Marissa Andrada

Senior Vice President, Global


Partner (Human) Resources

Senior Management

Jeff Hansberry

President, CAP

Senior Management

Annie Young-Scrivner

Executive Vice President and


President, Teavana

Senior Management

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Compensation

2417002 USD

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Starbucks Corporation
Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES


Howard Schultz
Board: Executive Board
Job Title: Chairman, President and Chief Executive Officer
Since: 2008
Age: 60
Mr. Schultz has been the President and Chief Executive Officer at Starbucks since 2008 and the
Chairman of the Board since 1985. He is also the Founder of the company. From 2000 to 2005, Mr.
Schultz also served as the Chief Global Strategist at the company. Previously, he served as the
Chairman and Chief Executive Officer at Starbucks from 1985 to 2000. During 198687, Mr. Schultz
served as the Chairman of the Board, Chief Executive Officer and President at Il Giornale Coffee
Company, a predecessor to Starbucks. Prior to that, from 1982 to 1985, he was the Director of Retail
Operations and Marketing at Starbucks Coffee Company, a predecessor to the company.

William W. Bradley
Board: Non Executive Board
Job Title: Director
Since: 2003
Age: 70
Mr. Bradley has been a Director at Starbucks since 2003. He has also been a Managing Director at
Allen & Company since 2000. From 2001 to 2004, Mr. Bradley served as the Chief Outside Advisor
to McKinsey & Company's non-profit practice. He served as a Senior Advisor and Vice Chairman
of the International Council at JP Morgan & Co. from 1997 to1999. During the same period, Mr.
Bradley worked as an Essayist for CBS Evening News and was a visiting Professor at Stanford
University, the University of Notre Dame and the University of Maryland. He served in the US Senate
from 1979 to 1997. Mr. Bradley also served as a Director at Seagate Technology and Willis Group
Holdings and currently serves on the Board of Directors at QuinStreet.

Robert M. Gates
Board: Non Executive Board
Job Title: Director
Since: 2012
Age: 70
Mr. Gates has been a Director at Starbucks since 2012. He served in numerous roles in the Executive
Branch of the US government for nearly half a century, most recently as the Secretary of Defense

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from 2006 to 2011. In 2011, Mr. Gates was named the Chancellor of the College of William & Mary.
From 2002 to 2006, he also served as the President of Texas A&M University. He was previously
a member of the Board of Directors at several companies, including Brinker International, NACCO
Industries, Parker Drilling Company and the Board of Independent Trustees of the Fidelity Funds.

Mellody Hobson
Board: Non Executive Board
Job Title: Director
Since: 2005
Age: 44
Ms. Hobson has been a Director at Starbucks since 2005. She has been the President and a Director
at Ariel Investments since 2000, the Chairman since 2006 and a Trustee of Ariel Mutual Funds since
1993. Ms. Hobson served as a Senior Vice President and the Director of Marketing at Ariel Capital
Management from 1994 to 2000 and as the Vice President of Marketing from 1991 to 1994. Currently,
she also serves as the Chairman at DreamWorks Animation, and as a Director at The Estee Lauder
Companies and Groupon.

Kevin R. Johnson
Board: Non Executive Board
Job Title: Director
Since: 2009
Age: 53
Mr. Johnson has been a Director at Starbucks since 2009. He has also been the Chief Executive
Officer at Juniper Networks from 2008 to 2013. Prior to that, Mr. Johnson served as the President
of Platforms and Services division at Microsoft. He also serves as a Director at Juniper Networks.

Olden Lee
Board: Non Executive Board
Job Title: Director
Since: 2003
Age: 72
Mr. Lee has been a Director at Starbucks since 2003. He served as the Interim Executive Vice
President, Partner Resources at Starbucks from 2009 to 2010. Mr. Lee previously served at PepsiCo
for 28 years in various positions, including Senior Vice President of Human Resources for Taco Bell
division and Senior Vice President and Chief Personnel Officer for KFC division. He retired from
PepsiCo in 1998. Since 1998, Mr. Lee has served as Principal of Lee Management Consulting, a
management consulting firm he founded.

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Joshua Cooper Ramo


Board: Non Executive Board
Job Title: Director
Since: 2011
Age: 45
Mr. Ramo has been a Director at Starbucks since 2011. He is the Vice Chairman at Kissinger
Associates, a strategic advisory firm where he has been employed since 2005. Mr. Ramo was
previously the Managing Partner and a Senior Advisor for the Office of John L. Thornton, a corporate
advisory specialist and an advisor to Goldman Sachs, from 2003 to 2005. He also served as Senior
Editor and Foreign Editor at TIME magazine from 1996 to 2003. Mr. Ramo also serves on the Board
of Directors at FedEx Corporation.

James G. Shennan, Jr.


Board: Non Executive Board
Job Title: Director
Since: 1990
Age: 72
Mr. Shennan has been a Director at Starbucks since 1990. He served as a General Partner at Trinity
Ventures from 1989 to 2005, when he became General Partner Emeritus. Prior to joining Trinity
Ventures, Mr. Shennan served as the Chief Executive at Addison Consultants, and two of its
predecessor companies.

Clara Shih
Board: Non Executive Board
Job Title: Director
Since: 2011
Age: 32
Ms. Shih has been a Director at Starbucks since 2011. She is the Chief Executive Officer and a
Board member at Hearsay Social, an enterprise software company she co-founded in 2009. From
2006 to 2009, Ms. Shih served as the Product Management Director of AppExchange at
salesforce.com, an enterprise software company. From 2004 to 2006, she served as an Associate
of Strategy and Business Operations for Google. Previously, Ms. Shih was a Software Engineer at
Microsoft Corporation.

Javier G. Teruel
Board: Non Executive Board
Job Title: Director

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Since: 2005
Age: 63
Mr. Teruel has been a Director at Starbucks since 2005. He served as the Vice Chairman at
Colgate-Palmolive Company from 2004 to 2007. Prior to being appointed the Vice Chairman, Mr.
Teruel served as Colgate-Palmolive's Executive Vice President responsible for Asia, Central Europe,
Africa and Hill's Pet Nutrition. He also served as the Vice President of Body Care in Global Business
Development in New York, and as the President and General Manager at Colgate-Mexico. Mr. Teruel
was also the President at Colgate-Europe, and the Chief Growth Officer responsible for the companys
growth functions. Currently, he serves as a Director at J.C. Penney Company and the Nielsen
Company B.V.

Myron E. Ullman, III


Board: Non Executive Board
Job Title: Director
Since: 2003
Age: 67
Mr. Ullman has been a Director at Starbucks since 2003. He has also been the Chief Executive
Officer at J.C. Penney Company since 2013. Mr. Ullman served as the Executive Chairman at J.C.
Penney Company from 2011 to 2012 and as the Chairman of the Board and Chief Executive Officer
from 2004 to 2011. Previously, he served as Directeur General, Group Managing Director at LVMH
Moet Hennessy Louis Vuitton from 1999 to 2002, as the Chairman and Chief Executive Officer at
DFS Group from 1995 to 1999 and as the Chairman and Chief Executive Officer at R.H. Macy & Co
from 1992 to 1995. Currently, he serves as the Chairman at the Federal Reserve Bank of Dallas.

Craig E. Weatherup
Board: Non Executive Board
Job Title: Director
Since: 1999
Age: 68
Mr. Weatherup has been a Director at Starbucks since 1999. He worked with PepsiCo for 24 years
and served as the Chief Executive Officer of its worldwide Pepsi-Cola business and as the President
at PepsiCo. Mr. Weatherup also led the initial public offering at The Pepsi Bottling Group, where he
served as the Chairman and Chief Executive Officer from 1999 to 2003. Currently, he also serves
as a Director at Macy's.

Scott Maw
Board: Senior Management
Job Title: Executive Vice President and Chief Financial Officer

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Since: 2014
Mr. Maw has been an Executive Vice President and the Chief Financial Officer at Starbucks since
February 2014. Prior to this, he served as the Senior Vice President of Corporate Finance at the
company. Mr. Maw joined Starbucks as Global Controller in 2011. Prior to joining the company, he
served as the Chief Financial Officer at SeaBright Insurance Company from 2010 to 2011. Mr. Maw
served as the Chief Financial Officer of the Consumer Banking division of JPMorgan Chase & Co
from 2008 to 2010. From 1994 to 2003, he served in various finance leadership positions at General
Electric Company, including Chief Financial Officer for GE Insurance Holdings.

Troy Alstead
Board: Senior Management
Job Title: Chief Operating Officer
Since: 2014
Age: 50
Mr. Alstead has been the Chief Operating Officer at Starbucks since February 2014. Prior to this,
he served as the Chief Financial Officer and the Group President of Global Business Services at
Starbucks from 2013. He previously served as the Chief Financial Officer and Chief Administrative
Officer at the company from 2008 to 2013. Mr. Alstead also served as the Chief Operating Officer,
Starbucks Greater China in 2008, as the Senior Vice President, Global Finance and Business
Operations from 2007 to 2008, and as the Senior Vice President, Corporate Finance from 2004 to
2007. Mr. Alstead joined the company in 1992.

Clifford Burrows
Board: Senior Management
Job Title: Group President, the Americas, EMEA and Teavana
Since: 2013
Age: 54
Mr. Burrows has been the Group President, the Americas, EMEA and Teavana at Starbucks since
2013. He previously served as the President of the Americas region at the company from 2011 to
2013 and as the President, Starbucks Coffee US from 2008 to 2011. Mr. Burrows also served as
the President, Starbucks Coffee EMEA from 2006 to 2008. He joined Starbucks in 2001 as the
Managing Director, UK. Prior to joining Starbucks, Mr. Burrows served as the Managing Director at
Habitat Design, a furniture and housewares retailer.

John Culver
Board: Senior Management
Job Title: Group President, CAP, Channel Development and Emerging Brands
Since: 2013

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Age: 53
Mr. Culver has been the Group President, CAP, Channel Development and Emerging Brands at
Starbucks since 2013. Prior to that, he was the President of Starbucks Coffee CAP from 2011 to
2013, the President of Starbucks Coffee International from 2009 to 2011 and the President of
Starbucks Coffee Asia Pacific from 2007 to 2009. Mr. Culver also served as the President, Global
Consumer Products and Foodservice at the company in 2009. Before joining Starbucks in 2002, he
served as the Vice President of Sales at Nestle USA.

Arthur Rubinfeld
Board: Senior Management
Job Title: Chief Creative Officer and President, Global Development and Evolution Fresh Retail
Since: 2012
Mr. Rubinfeld has been the Chief Creative Officer and President, Global Development and Evolution
Fresh Retail at Starbucks since 2012. He joined the company in 1992 and served in various positions
until 2002. In 2002, he founded AIRVISION, an advisory firm specializing in brand positioning. Mr.
Rubinfeld rejoined Starbucks in 2008 to lead global store development.

Blair Taylor
Board: Senior Management
Job Title: Chief Community Officer and Executive Vice President, Partner Resources
Since: 2013
Mr. Taylor has been the Executive Vice President, Partner Resources at Starbucks since 2013 and
the Chief Community Officer since 2012. Prior to joining the company, he served as the President
and Chief Executive Officer of the Los Angeles Urban League, where he was involved in several
community engagement programs, such as Neighborhoods@Work, a holistic community reform
model. In the past, Mr. Taylor also served as the Executive Vice President of College Summit from
2002 until 2005, a national college access initiative. His private-sector experience includes four years
as the President and Chief Executive Officer at COI/ICD, a retail franchising company focused on
low income communities in the US and the Caribbean. He also has more than eight years of
experience in various leadership roles at PepsiCo and IBM.

Adam Brotman
Board: Senior Management
Job Title: Chief Digital Officer
Since: 2012
Mr. Brotman has been the Chief Digital Officer at Starbucks since 2012. Previously, he served as
the Senior Vice President and general Manager, Starbucks Digital Ventures. Prior to joining Starbucks

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in 2009, Mr. Brotman held several key leadership positions at digital media companies, including
Chief Executive Officer at Barefoot Yoga Company, and Senior Vice President at Corbis. He also
founded PlayNetwork, a provider of in-store digital media and entertainment services for businesses
worldwide.

Curt Garner
Board: Senior Management
Job Title: Chief Information Officer
Since: 2012
Mr. Garner has been the Chief Information Officer at Starbucks since 2012. Mr. Garner joined
Starbucks in 1998 as the Director of International Information Technology. During his tenure with
Starbucks, he has served in a number of roles. Most recently, he served as the Senior Vice President
of Business Technology, supporting retail technology as well as international technology.

Sharon Rothstein
Board: Senior Management
Job Title: Global Chief Marketing Officer
Since: 2013
Ms. Rothstein has been the Global Chief Marketing Officer at Starbucks since 2013. Previously, she
served as the Senior Vice President of Marketing at Sephora, a specialty beauty retailer. Prior to
Sephora, Ms. Rothstein held senior marketing and brand management positions at Godiva, Starwood
Hotels and Resorts, and Procter & Gamble.

Matthew Ryan
Board: Senior Management
Job Title: Global Chief Strategy Officer
Since: 2013
Mr. Ryan has been the Global Chief Strategy Officer at Starbucks since 2013. He previously served
as the Senior Vice President of Global Brand, Franchise and Customer Relationship Management
at The Walt Disney Company. Prior to joining The Walt Disney Company in 1998, Mr. Ryan held
senior strategic planning roles with several national and international advertising agencies.

Lucy Lee Helm


Board: Senior Management
Job Title: Executive Vice President, General Counsel and Secretary
Since: 2012

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Age: 56
Ms. Helm has been the Executive Vice President, General Counsel and Secretary at Starbucks
since 2012. Previously, she served as the Senior Vice President and Deputy General Counsel from
2007. Ms. Helm served as the Vice President, Assistant General Counsel from 2002 to 2007 and
as Director, Corporate Counsel from 1999 to 2002. During her tenure at Starbucks, she led various
teams of the Starbucks legal department, including the Litigation and Brand protection team, the
Global Business (Commercial) team and the Litigation and Employment team. Prior to joining
Starbucks, Ms. Helm was a Principal at the Seattle law firm of Riddell Williams from 1990 to 1999.

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Major Products and Services

MAJOR PRODUCTS AND SERVICES


Starbucks is a premier roaster, marketer and retailer of specialty coffee. The company's key products
include the following:
Products:
Coffees:
Blended coffees
Single-origin premium Arabica coffees
Handcrafted beverages:
Fresh-brewed coffee
Hot and iced espresso beverages
Frappuccino coffee
Non-coffee blended beverages
Smoothies
Tazo teas
Merchandise:
Coffee and tea brewing equipment
Mugs and accessories
Packaged goods
Music
Books
Gift items
Fresh food:
Baked pastries
Sandwiches
Salads
Oatmeal
Yogurt parfaits
Fruit cups
Consumer products:
Whole bean coffees and teas
Ground coffees and teas
Tea filter bags

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Major Products and Services

Tea latte concentrates


Ready-to-drink teas and coffees
Bottled iced and juiced teas
Ice creams in premium coffee and coffee-free flavors
Brands:
Starbucks Coffee
Tazo Tea
Seattles Best Coffee
Torrefazione Italia Coffee
Starbucks VIA Ready Brew
Starbucks Refreshers
Frappuccino
Evolution Fresh
La Boulange
Teavana
Verismo

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Revenue Analysis

REVENUE ANALYSIS
Overview
The company recorded revenues of $14,892.2 million in FY2013, an increase of 12% over FY2012.
For FY2013, the US, the company's largest geographic market, accounted for 76.7% of the total
revenues.
Starbucks generates revenues through four business segments: the Americas (73.9% of the total
revenues in FY2013), channel development (9.5%), EMEA (7.8%) and CAP (6.2%). The remaining
2.6% of revenues were derived from the other operations not attributable to any segment. These
include Seattles Best Coffee, Evolution Fresh and Digital Ventures business.
Revenues by segment
In FY2013, the Americas segment recorded revenues of $11,000.8 million, an increase of 10.7%
over FY2012.
The channel development segment recorded revenues of $1,420.7 million in FY2013, an increase
of 9.9% over FY2012.
The EMEA segment recorded revenues of $1,160 million in FY2013, an increase of 1.6% over
FY2012.
The CAP segment recorded revenues of $917 million in FY2013, an increase of 27.1% over FY2012.
Revenues by geography
The US, Starbucks' largest geographical market, accounted for 76.7% of the total revenues in
FY2013. Revenues from the US reached $11,415 million in FY2013, an increase of 12.2% over
FY2012.
Other countries accounted for 23.3% of the total revenues in FY2013. Revenues from other countries
reached $3,477.2 million in FY2013, an increase of 11.4% over FY2012.

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SWOT Analysis

SWOT ANALYSIS
Starbucks is a premier roaster, marketer and retailer of specialty coffee. Through its various
value-added services, the company not just sells coffee but also creates a differentiating
coffee-drinking experience to its in-store customers and meets their unstated needs, which, in turn,
helps it in surviving in the highly competitive foodservice retail space. However, increasing competition
may lead to price wars, which, in turn, could affect the market share of the company.
Strengths

Weaknesses

Building strong customer connect through


value-added services
Leveraging technology to build a robust
distribution channel strategy
Strong financial position

Product recalls
Tax evasion and lawsuits

Opportunities

Threats

Entry into the health and wellness space


Growing presence in key Asian markets
Expanding presence in the growing
single-serve coffee market in the US
The growing office coffee marketplace

Intense competition
Compliance costs associated with
government regulations

Strengths

Building strong customer connect through value-added services


Starbucks operates in the highly competitive foodservice retail space that demands consistent
delivery of quality service to either retain existing customers or to attract new ones. Apart from selling
its world-renowned coffee blends in a variety of flavors, the company is focused on providing a
coffee-drinking experience to its in-store customers. In the past several years, the company has
been focusing on meeting its customers unstated demands by offering various value-added services,
such as entertainment on premises.
Starbucks offers free, instant and unlimited Wi-Fi connectivity at all its company-owned stores across
the US and Canada. The customers, who come for a drink or a snack, are encouraged to spend
more time inside the store through free access to internet and the Starbucks Digital Networka
news and entertainment web portal offered in association with Yahoo.com. The Starbucks Digital
Network also offers free access to subscription editions of various premium news resources, such
as The Wall Street Journal, New York Times, USA Today, The Economist and ESPN Insider. It also

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SWOT Analysis

offers exclusive iTunes downloads and e-book downloads for its in-store customers. Apart from
these in-store experiences, the company also targets customers by up-selling merchandise including
music, movies, apparel, books and accessories. To further improve its in-store experience for
customers, in July 2013, Starbucks selected Google to provide the next generation of its Wi-Fi
offering for its customers. Beginning August 2013, the new US company-operated Starbucks stores
will begin to receive up to 10 times faster network and Wi-Fi speeds. Over the next 18 months,
Starbucks will convert more than 7,000 US stores to the upgraded store network and Wi-Fi experience.
In addition to providing faster Wi-Fi, Starbucks and Google will also work together to co-develop the
next-generation Starbucks Digital Network.
While the companys strategy is to build stronger customer connect, through these initiatives it is
also able to gain a higher footfall as more and more customers walk in for the exclusive in-store
experiences. Additionally, Starbucks is able to create a unique selling proposition by combining its
customized coffee blends with in-store experiences that customers look forward to. All these strategies
are aiding the company in building its competitive advantage.
Leveraging technology to build a robust distribution channel strategy
While operating in the vast food service space, Starbucks is required to build a robust distribution
strategy to stay ahead of its competition. In terms of distribution, the company sells through four
channels: company-operated retail stores, licensed stores, CPG and foodservice operations. In the
recent times, the company has been expanding its distribution network to include as many channels
to reach customers where they work, travel, shop and dine.
Besides the traditional distribution channels, the company has been utilizing digital channels such
as internet and mobile applications, to reach its customers. In the beginning of 2011, Starbucks
launched its mobile payment application at all of its 6,800 company-owned stores and 1,000 stores
operated by Target in the US market. This application allows customers to pay for their in-store
purchases through select smartphones. The Starbucks Card Mobile App displays a barcode that
can be used just like a Starbucks Card to make a purchase. To pay, customers need to hold the
mobile device in front of a scanner on the countertop and scan the Starbucks Card Mobile Apps
on-screen barcode to make a purchase. The application also allows customers to track rewards and
reload balance using PayPal. After extensive testing, it was found to be an efficient and quick way
to process payments at the companys stores. According to Starbucks, there is a demand for such
a type of payment service. Over one-third of its customers use a smartphone and one in five uses
a Starbucks card at checkout.
In mid-2011, the company launched Starbucks for iPhone, a mobile application that introduces its
popular Starbucks Card eGift feature on a mobile device and also combines the features of its two
popular applications for iPhone and iPod touchmyStarbucks and Starbucks Card Mobile. The new
application allows customers to access their favorite Starbucks Card features, use the mobile payment
capability and track their My Starbucks Rewards and custom Starbucks features in a single application.
The new application also allows customers to send a mobile gift. On the same lines, Starbucks also
launched a mobile application for Android-based smartphones, Starbucks for Android application.
The Android application provides consumers access to the fastest way to pay and other features to

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manage their Starbucks Card on-the-go. Following the success of these mobile applications, Safeway,
the US-based retail supermarket chain, rolled out mobile payment at nearly 1,000 Starbucks in
Safeway supermarkets across the US in 2011.
In 2012, the company began accepting Square Wallet, a mobile payment application offered by the
American company Square Incorporated. The new service was made available at approximately
7,000 Starbucks stores across the US. Starbucks became the first retailer in the US to combine its
own mobile payment technology with a loyalty program, with the launch of Starbucks Card Mobile
App in 2011. Currently, the company generates more than three million mobile transactions each
week in the US, accounting for approximately 10% of total US tender. In addition, the total Starbucks
Card transactions, including both physical card and mobile application purchases, constitute more
than 30% of the company's US payments. Starbucks also began integrating the Starbucks Card and
My Starbucks Rewards loyalty program across several of its brands, including Teavana.The registered
customers who make purchases with a Starbucks Card or through the Starbucks mobile application
will receive various benefits depending on the number of stars they earn. At the end of October
2012, the company had 4.5 million active members.
By leveraging technology, the company is not just reaching out to an expanding base of consumers,
but also is offering them a more convenient way of making transactions. Furthermore, these strategic
initiatives will allow Starbucks to break through its traditional distribution channels, increase the
addressable market and add new avenues for revenue generation.
Strong financial position
The company has a strong financial position, indicated by its revenue growth. Starbucks has witnessed
a steady growth in its revenues over many years. The companys revenues increased at a compound
annual growth rate (CAGR) of 11% from $9,774.6 million in FY2009 to $14,892.2 million in FY2013.
The revenues of the company grew by 12% in FY2013 over the previous year. The revenue growth
was mainly attributable to increased revenues from company-operated stores (contributing $1.3
billion), driven by a 7% increase in comparable store sales. It was also due to incremental revenues
from net new company-operated store openings and licensed stores. The companys operating
results included a litigation charge as a result of the conclusion of its arbitration with Kraft Foods
Group which resulted in a pretax charge to operating expenses of $2.8 billion. Excluding this charge,
the companys operating profit increased 23.1% in FY2013 over FY2012.
In addition to the revenues of the company, the other financial parameters have been impressive.
Cash flow from operations was $2.9 billion in FY2013 compared to $1.8 billion in FY2012. Total cash
and cash equivalents increased by more than 100% to $2,575.7 million in FY2013. Thus, strong
financial performance will provide the company with financial flexibility and also help in expansion
activities.

Weaknesses

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SWOT Analysis

Product recalls
Starbucks has been registering increasing instances of product recalls lately. In February 2014,
Evolution Fresh initiated a voluntary product recall of approximately 1,700 bottles of organic sweet
greens and ginger juice sold by grocery retailers in California and Nevada as a small number of
these products were swollen. La Boulange Cafe & Bakery voluntarily initiated a product recall of 75
Soft Caramel Jams in 8.4 oz. jars as a precautionary measure in November 2013. This product was
sold exclusively in 20 La Boulange Cafe & Bakery stores in the San Francisco Bay area. The recall
was initiated after it was discovered by the company that the product was inadvertently mislabeled
and filled with Hazelnut Jam (containing undeclared hazelnut). In February 2013, the company
recalled all its products containing wheat grass sourced from Sprouters Northwest, due to the possible
contamination with Listeria monocytogenes. The recall included all varieties of wheatgrass products
sold across the companys Seattles Evolution Fresh retail stores, including handcrafted beverages
containing wheatgrass. In 2012, the Canadian Food Inspection Agency issued a warning against
consuming Justin's-brand honey peanut butter, used in Starbucks protein bistro boxes. Starbucks
voluntarily recalled the protein bistro boxes, which were feared to contain salmonella, potentially
fatal bacteria. In the same year, Starbucks Seasonal HarvestFruit Blend, another product of the
company, was recalled due to concerns over possible salmonella braenderup contamination.
Earlier, in 2011, the US Department of Agriculture's Food Safety and Inspection Service reported
finding Listeria bacteria in samples taken from chicken to be used in one of Starbucks' bistro box
line of ready-to-eat meals. Following the report, FSIS and Flying Food Group, suppliers to Starbucks,
recalled all Starbucks Chipotle Chicken Wraps and Starbucks Chicken and Hummus boxed meals
produced during that time. Later, FSIS and Flying Food expanded the recall to include two more
contaminated productsStarbucks Salami and Cheese and Starbucks Chicken Lettuce Wraps. Product
recalls could affect the value of the Starbucks brand and result in a decline in demand for its products.
Tax evasion and lawsuits
Starbucks is involved in several lawsuits. In 2012, Starbucks was alleged to have diverted its profits
earned in the UK to other European nations and avoided taxes for the last three years. According
to reports, the company paid only 8.6 million (approximately $13.5 million) in corporation tax since
launching in the UK in 1998, despite recording cumulative sales of 3 billion (approximately $4.7
billion) during this period. A network of UK-based protest groups established to protest against tax
avoidance in the UK targeted the companys coffeehouses in the UK. In December 2012, it staged
protests across more than 40 Starbucks shops, which disrupted business at these locations. In
January 2013, Starbucks committed to pay about 20 million (approximately $31.4 million) in British
corporation tax over the next two years.
In the first quarter of FY2011, Starbucks notified Kraft Foods Global (now known as Kraft Foods
Group, Inc.) the discontinuation of its distribution arrangement due to material breaches by Kraft
Foods of its obligations under the supply and license agreement between both companies. Through
the companys arrangement with Kraft Foods, Starbucks sold a selection of Starbucks and Seattle's
Best Coffee branded packaged coffees in grocery and warehouse club stores throughout the US,
and to grocery stores in Canada, the UK and other European countries. Kraft Foods managed the

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SWOT Analysis

distribution, marketing, advertising and promotion of these products. In December 2010, Kraft Foods
commenced a federal court action against Starbucks seeking injunctive relief to prevent Starbucks
from terminating the distribution arrangement until the parties' dispute is resolved through the
arbitration proceeding. The District Court for the Southern District of New York denied Kraft Foods'
request for injunctive relief. As a result, Starbucks has been in full control of its packaged coffee
business since March 2011.
In April 2012, Starbucks and Kraft Foods exchanged expert reports regarding alleged damages on
their claims. Starbucks claimed damages of up to $62.9 million from the loss of sales resulting from
Kraft Foods' failure to use commercially reasonable efforts to market Starbucks coffee, plus attorney
fees. Kraft Foods claimed damages of up to $2.9 billion, plus attorney fees. The arbitration hearing
process was carried out during JulyAugust 2012. In November 2013, the arbitrator ordered Starbucks
to pay Kraft Foods $2,227.5 million in damages plus prejudgment interest and attorney fees. The
company estimated prejudgment interest, which includes an accrual through the estimated payment
date, and attorney fees to be approximately $556.6 million. As a result, it recorded a litigation charge
of $2,784.1 million in its FY2013 operating results.
Such lawsuits and tax evasion controversies have the potential to severely tarnish the brand image
of the company, which could negatively impact the companys sales in the long term.

Opportunities

Entry into the health and wellness space


Growing concerns over lifestyle-related health issues like obesity, diabetes, hypertension and chronic
heart disease are encouraging consumers to make a shift in their food preferences. In the recent
past, consumers have consciously made a preference shift towards healthy, fat-free and no-sugar
options in processed foods. According to a survey conducted by an industry source in 2012, about
50% of all the adults in the US acknowledged the need to make changes to their diet to improve
their overall health. Also, the same survey revealed that about 33% of US adults showed a strong
interest in functional foods and beverages, while 25% of them are already using a functional food
or beverage at least once a day.
Starbucks entered the US health food market with the opening of its first Evolution Fresh store in
Washington in the first quarter of 2012. The store sells bottled Evolution Fresh fruit and vegetable
juices, smoothies and food, such as oatmeal, wraps, salads and soups. The menu also includes
vegan and vegetarian options and much-in-demand super foods like kale and quinoa. The store
also has a unique, patent-pending interactive juice wall that displays educational and entertaining
digital illustrations of juices and smoothies being handcrafted. Since acquiring the Evolution Fresh
brand in 2011, Starbucks expanded the brands distribution to additional grocery channels. As of
October 2013, Evolution Fresh juices were sold in nearly 5,000 Starbucks stores. The company
plans to make Evolution Fresh juices available in approximately 11,200 stores in the US in 2014.
The company claims that each beverage is prepared using a Heat-free, High-pressure Pasteurization

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SWOT Analysis

(HHP) process that retains more of the nutrients in the juice, compared with the conventional heat
pasteurization used by some rivals in the refrigerated juice category.
Despite being the latest entrant into this high-growth health and nutrition space, the companys
unique selling propositions like the HHP process and unique store experiences can help it achieve
an edge over its competitors. Additionally, the new portfolio of healthy beverages will complement
the existing revenue channels of the company and provide it with additional income sources in future.
Growing presence in key Asian markets
Starbucks has been aggressively expanding its presence in Asia, particularly in China and India.
The fast pace economic development in China coupled with the rise of the middle class income
group and their increasing disposable income have contributed to the increase in demand for various
consumer goods in the country. More than 160 cities in China have population greater than one
million. Furthermore, the middle class population in China is expected to double by 2025. These
factors are expected to lend support to the growing demand for consumer products offered by
Starbucks. In order to tap into this growing market, Starbucks has already embarked on aggressive
expansion plans in the country. By the end of FY2013, the company had 906 company-operated
stores (including 614 in China) and a further 2,976 licensed stores (including 403 in China) operating
in the CAP region. Furthermore, the companys total net revenues for FY2013 from the CAP region
increased 27.1%, primarily driven by increased revenues from the newly-added 240 net new
company-operated stores and 348 net new licensed store openings during the year. China is currently
the fastest growing retail store market for Starbucks, outside its home market, the US. The company
believes that China will become its second largest market by 2014.
Besides China, the company is also focused on the high-potential Indian coffee retail market. The
Indian market primarily consists of tea drinkers. However, the changing demographic and the countrys
rising middle class population are contributing significantly to the rise in coffee consumption. According
to latest industry reports, there is a largely untapped market potential for coffee in the country. In
2012, the company entered into a strategic partnership with Tata Global Beverages Limited of India
on a 50/50 joint venture, named TATA Starbucks Limited. Through the joint venture, Tata Global
Beverages owns and operates Starbucks cafes in various cities across India that are branded
Starbucks Coffee A Tata Alliance. In 2012, Starbucks made its entry into the Indian coffee market
with the opening of its flagship store in Mumbai. Besides the companys signature offerings, in India,
Starbucks is also offering several local recipes, including Indian Espresso Roast and other locally
relevant flavors.The company also has a separate sourcing and roasting agreement with Tata Coffee
Limited, according to which Tata Coffee Limited roasts coffee to supply TATA Starbucks Limited,
and export to Starbucks Coffee Company. Several food chains and close competitors of Starbucks
intend to tap into the fast-growing Indian market, while restaurant chains like McDonald's and Yum!
Brands already have considerable coverage in India.
Starbucks is also aggressively expanding into other Asian markets. In April 2013, Starbucks
announced plans to open 100 new stores in Indonesia over the next three years and another 100
stores in the Philippines over the next four years. In June 2013, Starbucks announced plans to open
100 new stores in Malaysia over the next four years. By leveraging its strong brand name and

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Starbucks Corporation
SWOT Analysis

business alliances with local players, Starbucks can expand the companys presence in fast growing
Asian markets and lend stability to its topline growth.
Expanding presence in the growing single-serve coffee market in the US
Starbucks has been expanding its CPG business in the fast growing single-serve coffee market in
the US. According to industry estimates, the growth of coffee market in the US in 2012 was primarily
driven by sales of single-serve coffee which totaled nearly $2 billion, an increase of more than 80%
from 2011. During 201316, the single-serve market is expected to grow at a CAGR of nearly 30%.
Starbucks entered the single-serve segment in the US with the launch of VIA Ready Brew in 2009.
The product was subsequently launched in international markets, including Canada, the UK, Japan
and the Philippines. The company also introduced new variants under the Starbucks VIA Ready
Brew product line. The company has been pursuing opportunities to penetrate into the single-serve
coffee market in the US. In 2011, Starbucks entered into a strategic alliance with GMCR for
manufacturing, marketing, distributing and sale of Starbucks and Tazo Tea branded K-Cup portion
pack for use in GMCRs Keurig Single-Cup brewing system. Starbucks is the exclusive, licensed
super-premium coffee brand to be produced by GMCR for its Keurig single-cup brewing system.
Starbucks K-Cup portion packs were made available at food, drug, mass, club, specialty and
department store retailers in the US and Canada. Furthermore, in a forward integration initiative,
Starbucks introduced the Verismo single-serve brewer machine in 2012. Through its own product,
the company stated its intention to carve out a niche that GMCR and Nestle have successfully
occupied for the past few years in the US market. In FY2012, sales of Starbucks VIA Ready Brew
increased significantly and the company shipped nearly 500 million K-Cup packs, which helped it in
attaining approximately 16% of the premium single-cup market. With each of its product lines in the
premium single-serve coffee market, Starbucks aims to target customers with different choices; Via
Ready Brew is for those who don't want to buy a coffee machine; K-cups are for those who want a
basic brewed coffee; and Verismo for more sophisticated coffee drinkers. Furthermore, in May 2013,
Starbucks and GMCR entered into an expanded and long term strategic partnership for the
manufacturing, marketing, distribution, and sale of Starbucks and Tazo-branded single serve packs
for use in GMCRs Keurig single serve brewing systems globally. Under the new agreement, Starbucks
will add brands and varietals to the already robust Starbucks K-Cup and Vue pack portfolio of offerings
for Keurig single cup brewers, ultimately tripling the number of Starbucks products and adding brands
offered on the Keurig platform. New brands will include Seattles Best Coffee, Torrefazione Italia
coffee, Teavana Teas, and Starbucks Cocoa. The new agreement reinforces Starbucks position as
the exclusive licensed super premium coffee brand on the Keurig K-Cup and Vue platforms, and
further extends the Keurig systems position as the exclusive low-pressure single cup brewing system
for fresh-brewed Starbucks coffee, Tazo tea and the other Starbucks brands.
Through strategic alliances and its own product launches, Starbucks could tap into the growing
demand for single-serve coffee in the US and broaden its customer base.
The growing office coffee marketplace

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SWOT Analysis

Starbucks has a significant presence in the office coffee marketplace, where it offers a whole array
of products and solutions to corporate offices, commercial spaces and government buildings.Towards
the end of 2012, Starbucks started test marketing a new office coffee vending service for the first
time in Switzerland. The company entered into a partnership with Selecta, Europe's biggest vending
machine company, to provide its espressos, lattes and other products, including teas, for employees
in the office under the test project.
According to a recent market study conducted by an industry source, demand for single-cup brewers
in the workplace has been increasing in the past few years. The market study revealed that more
than one-fifth of the employees consume coffee that is individually brewed from pods or k-cups and
about 70% of these are supplied by their employers. Therefore, for most employees who find a
limited choice of either mediocre coffee or no coffee, a premium beverage like Seattles Best Coffee
represents an extra perk. Seattles Best Coffee currently has presence in nearly 50,000 locations
including cafes, college campuses, restaurants, hotels, airlines, cruise ships and movie theatres.
The company intends to expand its presence further in this space. The company reiterates that a
brand like Seattles Best Coffee could win in the workplace because the premium coffee brand is
an easy and affordable way for companies to deliver an extra perk to employees.

Threats

Intense competition
The specialty coffee market is intensely competitive. Competition in the global market is based on
a number of factors, including product quality, service, convenience and price. The company faces
significant competition in each of its channels and markets. In the US, Starbucks faces direct
competition from large competitors in the quick-service restaurant sector and ready-to-drink coffee
beverage market. For instance, it competes with Dunkin Brands in the US, which has strong presence
in the northeastern US. Dunkin Brands generates majority of its revenues from specialty coffee,
which commands high margins and has strong demand. Dunkin Brands sells franchises to
independent owners unlike Starbucks which builds and manages its own stores. This helps Dunkin
Brands to rapidly expand its store presence with minimal capital investment. The companys tea and
coffee products sold through its channel development segment compete directly with specialty
coffees and teas sold through supermarkets, club stores and specialty retailers. The company also
faces competition from well-established companies like McDonald's in many international markets.
McDonald's, which sells specialty coffee through McCafe, has global presence and strong brand
recognition in most countries. This acts as a threat to Starbucks which is yet to build its brand and
presence in these markets. Starbucks also competes with other companies such as Nestle, Peet's
Coffee & Tea, Caribou Coffee Company, Jamba, The J.M. Smucker Company, D.E Master Blenders
1753, Krispy Kreme Doughnut Corporation, and Panera Bread Company. Therefore, increasing
competition may lead to price wars, which, in turn, could affect the market share of the company.
Compliance costs associated with government regulations

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SWOT Analysis

Starbucks is subject to the regulations of the US Department of Agriculture, the Food and Drug
Administration and those of the Canadian equivalents. Similar regulations and requirements also
exist in the other countries in which the company operates. Future developments in the regulation
of labeling of foods could require the company to further modify the labeling of its products, which
could affect product sales. Additionally, new government laws and regulations could be introduced
in the future that could result in additional compliance costs. Thus, the company's inability to comply
with requirements could subject it to civil remedies, including fines, injunctions, recalls or seizures,
as well as potential criminal sanctions which may impact its business.

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Starbucks Corporation
Top Competitors

TOP COMPETITORS

The following companies are the major competitors of Starbucks Corporation

Nestl SA
Caribou Coffee Company, Inc.
McDonald's Corporation
The J.M. Smucker Company
Peet's Coffee & Tea, Inc.
Jamba, Inc.
Dunkin Brands Group Inc.
D.E Master Blenders 1753 N.V.
Krispy Kreme Doughnut Corporation
Panera Bread Company

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Starbucks Corporation
Company View

COMPANY VIEW
An excerpt from the Managements Discussion and Analysis of Financial Condition and Results of
Operations section of 10-K is given below. The statement has been taken from the company's 10-K
filing for FY2013.
General
Our fiscal year ends on the Sunday closest to September 30. The fiscal years ended on September
29, 2013, September 30, 2012 and October 2, 2011 all included 52 weeks. All references to store
counts, including data for new store openings, are reported net of related store closures, unless
otherwise noted.
Financial Highlights
Total net revenues increased 12.0% to $14.9 billion in fiscal 2013 compared to $13.3 billion in fiscal
2012.
Global comparable store sales grew 7% driven by a 5% increase in the number of transactions
and a 2% increase in average ticket.
Consolidated operating income decreased to $(0.3) billion in fiscal 2013 compared to $2.0 billion
in fiscal 2012 and fiscal 2013 operating margin was (2.2)% compared to 15.0% in fiscal 2012. The
declines were due to the litigation charge noted below.
EPS for fiscal 2013 decreased to $0.01, compared to EPS of $1.79 in fiscal 2012. The decline was
due to the litigation charge noted below.
Arbitration concluded on litigation with Kraft Foods Global, Inc. ("Kraft") on November 12, 2013,
which resulted in a pretax charge to fiscal 2013 operating results of $2.8 billion. This charge reduced
EPS by $2.25 per share in fiscal 2013.
Cash flow from operations was $2.9 billion in fiscal 2013 compared to $1.8 billion in fiscal 2012.
Capital expenditures were $1.2 billion in fiscal 2013 compared to $856 million in fiscal 2012.
Available operating cash flow after capital expenditures during fiscal 2013 was directed at returning
$1.2 billion of cash to our shareholders through dividends and share repurchases.
Overview
Starbucks segment results for fiscal 2013 demonstrate the fundamental health of our global business
model and our continued ability to successfully execute new growth initiatives in a disciplined manner.

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Starbucks Corporation
Company View

Our strong revenue growth of 12% and continued segment margin expansion drove increased
operating cash flows, which allowed us to both fund our growth initiatives and increase cash returned
to shareholders through dividends and share repurchases.
The Americas segment continued its strong performance in fiscal 2013, with revenues growing 11%
and comparable store sales growth of 7%. Strength in beverage innovation and promotions,
operational improvements, and expanded food offerings all contributed to the increase in comparable
store sales. Operating margin expanded 120 basis points to 21.5%, driven by sales leverage, store
efficiencies, and lower commodity costs. Looking forward, we expect to continue to drive sales growth
and profitability through new stores and enhanced product offerings, including the continued roll out
of La Boulange bakery items into all of our company-operated stores by the end of fiscal 2014.
In the EMEA segment, we are continuing to make steady progress toward long-term profitability in
the region. Revenues grew 2% compared to the prior year, with licensed store revenue growth nearly
offset by a decline in company-operated store revenues. This reflects the shift in our ownership
structure, as we have closed underperforming company-operated stores and are focused on growing
our licensed store base in profitable locations. Comparable store sales were flat year over year, but
were modestly positive in the second half of fiscal 2013. EMEA operating margin improved to 5.5%
in fiscal 2013 due to our ongoing cost management efforts and our store portfolio optimization
activities which began in the prior year. We expect the investments we are making in this segment
will result in improved operating performance as we progress on our plan towards mid-teens operating
margin over time.
Our CAP segment results reflect a combination of rapid new store growth and solid performance
from our existing store base, including our joint venture operations in China and Japan. New store
growth, along with a 9% increase in comparable store sales, drove a 27% increase in total net
revenues for fiscal 2013. Operating income grew 27% to $321 million and operating margin was
unchanged at 35%, primarily due to our rapid growth shifting away from our historically licensed
model. We expect this segment will become a more meaningful contributor to overall company
profitability in the future, as we look forward to continued store openings and establishing China as
our largest market outside of the US.
Channel Development segment revenues grew 10% in fiscal 2013, primarily due to increased sales
of premium single serve products. Lower coffee costs was the primary contributor to the 290 basis
point increase in operating margin for fiscal 2013. As we continue to expand customer occasions
outside of our retail stores, including growing our presence in the premium single serve category,
we expect this segment will become a more significant contributor to our future growth.
Our consolidated operating results included a litigation charge as a result of the conclusion of our
arbitration with Kraft which resulted in a pretax charge to operating expenses of $2.8 billion. The
conclusion of this litigation is described in more detail in Note 15 to the consolidated financial
statements included in Item 8 of Part II of this 10-K. We believe we have adequate liquidity to fund
this expected payment, both in the form of cash on hand and the expected issuance of additional
debt in fiscal 2014.

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Starbucks Corporation
Company View

Fiscal 2014 The View Ahead


For fiscal year 2014, we expect revenue growth driven by mid-single-digit global comparable store
sales growth, 1,500 new store openings, and continued growth in the Channel Development business.
We expect fiscal year 2014 consolidated operating margin improvement, when compared to our
fiscal 2013 operating results excluding the litigation charge associated with the Kraft arbitration, of
150 to 200 basis points and strong EPS growth, driven primarily by leverage on revenue growth.
The effective tax rate for fiscal 2014 is expected to be approximately 34.5%.
Capital expenditures in fiscal 2014 are expected to be approximately $1.2 billion, primarily for store
renovations and new stores, as well for other investments to support our ongoing growth initiatives.

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Starbucks Corporation
Locations and Subsidiaries

LOCATIONS AND SUBSIDIARIES


Head Office
Starbucks Corporation
2401 Utah Avenue South
Seattle
Washington 98134
USA
P:1 206 447 1575
http://www.starbucks.com/

Other Locations and Subsidiaries


Starbucks Coffee Japan, Ltd.
Shinmeguro Tokyu Building
2-25-2 Kamiosaki
Shinagawa-ku
Tokyo
JPN

Starbucks Coffee Company (Australia) Pty


Limited
Frenchs Forest DC
New South Wales 2086
AUS

Starbucks Coffee (Thailand) Co., Ltd.


12th floor
Exchange Tower
388 Sukhumvit Road Klongtoey
Bangkok 10110
THA

Starbucks Middle East & North Africa


M. H. Alshaya Co. W.L.L.
Safat 13002
KWT

Starbucks New Zealand


Level 3 Building 8
Central Park
666 Great South Road
Penrose
Auckland
NZL

Starbucks Coffee Argentina S.R.L


Edificio Libertador Park
Avenida Del Libertador N 1295 3Piso
B1638BEL Vicente Lopez
Provincia de Buenos Aires
ARG

Starbucks Singapore
401 Commonwealth Drive
0104/05
Haw Par Technocentre
Singapore 149598
SGP

Starbucks Coffee Company


Building 4
Chiswick Park
566 Chiswick High Road
London W4 5YE
GBR

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Starbucks Corporation
Locations and Subsidiaries

Starbucks Coffee EMEA B.V


1040 WD Amsterdam
NLD

Starbucks Corporation
MarketLine

Starbucks Coffee France


38 rue des Jeuneurs
75002 Paris
FRA

Page 41

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