Stock Monitor: Flanigan's Enterprises Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 7, 2018 / If you want access to our free research report on Starbucks Corp. (NASDAQ: SBUX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SBUX as the Company's latest news hit the wire. On June 04, 2018, the Company disclosed that Howard Schultz, Executive Chairman and member of the Board of Directors, plans to step down from his role and is leaving the Company on June 26, 2018. He has been given the title of Chairman Emeritus as an honor which will be effective from the day of his retirement. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Starbucks most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
The Board of Directors of the Company has appointed Myron E. 'Mike' Ullman as the new Chairman, and Mellody Hobson as the Vice Chairman of the Company's Board. These two appointments are effective immediately on the retirement of Schultz.
Schultz's announcement sparked off speculation regarding his entry into politics and a potential bid for the President's post.
Schultz's Role in Success of Starbucks
Howard Schultz has been serving as the Chairman of Starbucks since 1985. He joined the Company as Director of Retail Operations and Marketing in 1982. In August 1987, he purchased Starbucks with the help of local investors. He has served the Company in various roles of increasing stature and importance during his tenure spanning a few decades. From January 2008 onwards, he held the position of President and Chief Executive Officer (CEO). In March 2015, he stepped down as President and in April 2017 he passed on the mantle of CEO to Kevin R. Johnson.
During his tenure, Starbucks has grown in leaps and bounds. He has been the force behind the success of Starbucks which grew from 11 stores to more than 28,000 stores in 77 countries. The Company's stock witnessed a 21,000% gain in value since its IPO in 1992. He fashioned Starbucks inspired by the culture in coffee bars located in Italy. He tried to replicate a similar environment by popularizing the concept of Starbucks as the third place between home and work which offers a comfortable and welcoming ambience, provides a sense of community, and a place to form human connection.
Under Schultz's leadership, the Company won several awards and recognitions. In the current year 2018, Starbucks was named the fifth most admired Company in the world by Fortune magazine. The Ethisphere Institute named Starbucks as one of the World's Most Ethical Companies for the 12th consecutive year. Fast Company ranked Starbucks as number one of 2018's Most Innovative Companies, mainly for its social-impact work.
Schultz has been recognized for his contributions as an individual and has received several honors. He has been named as one of The World's Most Influential People by Time magazine, as well as Business Person of the Year by Fortune. Recently, he also received the Robert F. Kennedy Ripple of Hope Award, the Atlantic Council's Distinguished Business Leadership award, and the NAACP Legal Defense and Education Fund (LDF) National Equal Justice award.
He shared that he plans to spend time with his family and writing a book on the social impact work and the efforts carried on by Starbucks.
Thanking past and present Starbucks employees, Schultz said:
"Together we've done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility. Because of your creativity, your hard work, and the love that you have poured into the Company, Starbucks today is widely embraced and respected."
While bidding the Company an emotional adieu, he professed confidence in the leadership provided by Kevin Johnson and the management team to take the Company forward.
About Myron E. Ullman
Ullman has served as a Director for the Board of Starbucks since 2003. Prior to joining the Starbucks Board, he has been with J.C. Penney Co., Inc. as member of its Board since 2004. He retired from J.C. Penney in August 2016 as Executive Chairman. Previously, he was with luxury goods manufacturer and retailer LVMH Möet Hennessy Louis Vuitton; retailer of luxury branded merchandise, DFS Group Ltd; and R.H. Macy & Co. He has also been a member of the Board for Companies like Ralph Lauren Corp., Saks, Inc., and Pzena Investment Management, Inc.
About Mellody Hobson
Hobson has been a member of the Starbucks Board since February 2005. Prior to joining Starbucks, she was the President and a Director of Ariel Investments, LLC, which is a Chicago-based investment management firm. She is currently a member of the Board of The Estee Lauder Cos., Inc. and the Board of Governors of the Investment Company Institute. She also works with several civic and professional institutions, including as a Governance Board Member of the Chicago Public Education Fund and as Chairman of After School Matters, which provides Chicago teens with high quality out-of-school time programs.
About Starbucks Corp.
Starbucks is the premier roaster and retailer of specialty coffee in the world. The Company has been committed to ethically sourcing and roasting high-quality arabica coffee and providing a full and rewarding coffeehouse experience. The Company started the first Starbucks in 1971 at Seattle's historic Pike Place Market. Today the Company offers not only coffee but also a selection of premium teas, fine pastries, and other edible treats, but also an environment that is a great neighborhood gathering place to chat, meet up, or even work.
Stock Performance Snapshot
June 06, 2018 - At Wednesday's closing bell, Starbucks' stock rose 2.68%, ending the trading session at $57.17.
Volume traded for the day: 13.69 million shares, which was above the 3-month average volume of 8.05 million shares.
Stock performance in the previous three-month period - up 0.25%
After yesterday's close, Starbucks' market cap was at $78.56 billion.
Price to Earnings (P/E) ratio was at 18.15.
The stock has a dividend yield of 2.10%.
The stock is part of the Services sector, categorized under the Specialty Eateries industry. This sector was up 0.8% at the end of the session.
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