LONDON, UK / ACCESSWIRE / July 11, 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 July 09, 2018, the Company announced the elimination of single-use plastic straws from across its stores globally. The Company plans to replace the plastic straws with a specially-designed recyclable straw-less lid, as well as straws made out of alternative materials. The decision will be implemented in a phased manner and, by 2020, the Company would have completely eliminated plastic straws from its stores globally. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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:
Starbucks plans to eliminate the use of single-use plastic straws across its 28,000 Company-operated and licensed stores. The plan to eliminate plastic straws will be implemented in a phased manner and is expected to be completed by FY20. The decision is expected to result in the elimination of over one billion plastic straws annually.
The Company plans to replace the plastic straws with straw-less lids or straws made out of alternative materials across all its locations globally. The Company has already designed, developed, and manufactured a new straw-less lid which will be used for serving all types of iced coffee, tea, and espresso beverages. This new straw-less lid will be introduced across 8,000 Starbucks locations in the US and Canada for serving select beverages like Starbucks Draft Nitro and Cold Foam. The Company is also planning to test these new straw-less lids in markets like China, Japan, Singapore, Thailand, and Vietnam by using it for its Nitro range of beverages on a trial basis. The Company also plans to offer straws made from alternative materials like paper or compostable plastic to its customers ordering Frappuccino® blended beverages or to those customers requesting a straw. The decision makes great sense given that the Company's cold beverages, which actually require the straws, now accounts for nearly 50% of its total sales, and is expected to grow even more in the future.
The Company plans to introduce the straw-less lid to its customers in Seattle and Vancouver initially and later will be rolled out across its stores in the US and Canada in FY19. This will be followed by the launch of the straw-less lid in select stores in European markets like France, the Netherlands, and the UK. The Company has already introduced a trial scheme of charging 5p on takeaway coffee cups in select London stores from February 2018, and offering its customers a 25p per cup discount to customers willing to help reduce, reuse, and recycle these cups by bringing a reusable cup or tumbler to its stores. Starbucks has plans to expand this trial to over 950 stores in the UK later in July 2018 to promote reusability. The Company plans to donate the money collected to environmental charity and behavior change experts, Hubbub. Starbucks has also allocated over $10 million to identify best alternatives for recyclable and compostable cups. The Company has taken the decision after noting the growing concern and impact of plastic straws on the environment, especially on the various species living in the ocean.
Commenting on the decision to eliminate single-use plastic straws, Kevin Johnson, President and Chief Executive Officer (CEO) of Starbucks, said:
"For our partners and customers, this is a significant milestone to achieve our global aspiration of sustainable coffee, served to our customers in more sustainable ways."
Lauding Starbucks' decision, Erin Simon, Director of Sustainability Research & Development and Material Science at World Wildlife Fund, US, added:
"Plastic straws that end up in our oceans have a devastating effect on species. As we partner with Starbucks in waste reduction initiatives such as Next Gen Consortium Cup Challenge and WWF's Cascading Materials Vision, we hope others will follow in their footsteps."
On the same note, Nicholas Mallos, Director of Ocean Conservancy's Trash Free Seas program, stated:
"Starbucks' decision to phase out single-use plastic straws is a shining example of the important role that Companies can play in stemming the tide of ocean plastic."
Industry Support for Plastic Straw Ban
Starbucks has been implementing steps to promote sustainability and the current decision is the Company's latest efforts in taking the trend forward. Increasing global awareness about the dangers of using plastics, government intervention including plastic bans, as well as the impact of plastics on ocean lives have led to many restaurants, cafes, and coffee across the world to banning plastic straws in their locations. In June 2018, fast food chain McDonald’s announced plans to replace plastic straws with environment-friendly paper straws across its restaurants in the UK and Ireland. Other US Companies to ban plastic straws include Bon Appetit Management, Alaska Airlines, Royal Caribbean Cruises, Ikea, and SeaWorld Entertainment.
Stock Performance Snapshot
July 10, 2018 - At Tuesday's closing bell, Starbucks' stock climbed 1.04%, ending the trading session at $50.42.
Volume traded for the day: 9.03 million shares.
After yesterday's close, Starbucks' market cap was at $69.28 billion.
Price to Earnings (P/E) ratio was at 16.01.
The stock has a dividend yield of 2.86%.
The stock is part of the Services sector, categorized under the Specialty Eateries industry. This sector was up 0.1% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia