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Starbucks needs to ignite its sales, and fast.
Starbucks Corp. frequently talks about its efforts to boost U.S. sales through food, but it has also been upping its food game all around the globe. Food made up 19 percent of sales at the 12,235 corporate-owned Starbucks stores around the world in fiscal 2016, according to filings with the Securities and Exchange Commission. When Starbucks (SBUX) bought San Francisco based La Boulange for $100 million in 2012, food sales in U.S. stores made up about 16 percent of total sales.
A Financial Times columnist took Starbucks — and more specifically Howard Schultz — to task earlier this week for his and the company's use of jargon. Lucy Kellaway has been writing about company jargon for the last 25 years, but Sunday said it would be her last time writing about the subject. In lighthearted response , Starbucks' European Vice President of Corporate Affairs Simon Redfern wrote a letter to the editor, saying "he felt compelled to engage," because Starbucks just doesn't see the issue Kellaway is constantly writing about.