Starbucks says sales up 9% in the quarter, store traffic increased 6%

Starbucks' press release was rosy (of course), but shares fell after analysts detected a a weak outlook. From the press release:
* Starbucks plans to open approximately 500 net new stores globally; approximately 100 in the U.S. and approximately 400 internationally, the majority of which are expected to be licensed stores.
* The company is targeting mid- to high-single-digit revenue growth, driven by low- to mid-single-digit comparable store sales growth. || Read " Starbucks reports record third quarter earnings"

Comments

[Darth Sidamo???]

More licensed stores? This is a trend we should be going away from. I spent ten minutes telling a customer why the Hyatt one put peanutbutter in their vivanno but we do not.

[formermanager]

And staffing down 25%.

[Roger Waters]

Ok seriously, with more licensed stores coming, I better see a free pastry day coming very soon...like maybe this August. Hopefully.

[me, myself and I]

They have to give customers a visible clue so they know if it is a licensed or corporate store. At least the regular customers will get to know the difference.

[usorthem3]

Is there a % at which a bare minimum negative number labor will ever change? If foot traffic increases to 10%, will the stores ever see a increase in allotted labor or are some stores going to work permanently understaffed? I see improvement in the financial but it doesn't seem to filter down. Not trying to sound like I'm complaining, which I have no problem doing, just don't quite see the investment being distributed to anyone on the store level. I guess that is why it seems a shift towards more license outlets is the future direction. Smart move really because if you don't work for SBUX, then you can't complain about the company for how your treated while working for License SBUX. That would be a couple of questions for "Open Forum" @CamSpi thought about going but I doubt it, no one wants me to ask those questions there.

[Barista Ben]

They just tweaked the 401(k) to our benefit, if I am reading it correctly. Cool, we're starting to get SOMETHING back at least.

[bitterbean]

If they paid us more, the stock would go down, and we can't have that! Hourly partners hired after June in the MD/VA region will now make 25 cents less after six months than previously. That perhaps will make the stock go up!

[tea-rex]

Is it saying that the 400 international stores will be mostly licensed stores? That is pretty normal for stores opened overseas, I hear.

[James Connolly]

Things are looking up for people employed by Starbucks...if and only if you already make six figures.

When you consider that the company has made literally two-thirds of a billion dollars in three quarters, there's really no excuse for staffing levels and wages to remain at their current state unless you go with the whole 'wage workers don't actually deserve a living wage when they are the ones making the money that bought my Mercedes' angle.

"If one man has a dollar he didn't work for, some other man worked for a dollar he didn't get." William Haywood said that a hundred years ago, and it rings true today.

[Spider Jerusalem]

@Barista Ben:
Actually...
The average partner will now be making 19%-124% less on their 401k investment.
None will be making more unless they used to put in less than 5% of their income and have only worked for the company for one year or less.

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