All rights reserved. After submitting your information, you will receive an email. Iced espresso drinks, in particular, are Starbucks' largest category by sales volume and its fastest-growing segment, which is why the company chose to include the Iced Shaken Espresso in the Oleato launch. The Starbucks Reserve Roastery in Milan also released an iced cortado, a Golden Foam espresso martini, and an Oleato Deconstructed as part of the company's Reserve Oleato line. Please go to the link in the email message to retrieve your password. Today, with nearly 36,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. A Division of NBCUniversal. The conference call will be webcast, including closed captioning, and can be accessed on the companys website at https://investor.starbucks.com/. The first sip was interesting, but it tasted cloying and heavy after a few more. To share in the experience, please visit us in our stores or online at http://news.starbucks.com or www.starbucks.com. "Winning our election is a huge victory for the baristas at . The ruling covers the period from August 2021 to July 2022, by which point the campaign had spread from the Buffalo area to dozens of stores nationwide. According to a press release, Starbucks workers on Tenaya Way and Azure Drive voted 18 to 3 to join a union. 2023 Bloomberg L.P. All rights reserved. You must click the link in the email to activate your subscription. Starbucks launches olive oil-infused coffee, plans U.S. Kaya Cupial's Oleato Iced Cortado, meanwhile, was in a pretty V-shaped glass and garnished with an orange peel. Starbucks will begin to introduce the beverages in select markets around the world, starting with Southern California in the United States this spring. The result is velvety smooth, delicately sweet, and lush coffee that uplifts each cup with an extraordinary new flavor and texture. Back to Press releases. Updated: NLRB Region 7-Detroit Wins Injunction Requiring Starbucks to Rehire Unlawfully Fired Worker, Post the Court's Order, and Cease and Desist from Unlawful Activities at an Ann Arbor Store Office of Public Affairs 202-273-1991 publicinfo@nlrb.gov www.nlrb.gov February 28, 2023 The new "Oleato" line is the brainchild of CEO Howard Schultz, who is stepping down in April. investorrelations@starbucks.com, Starbucks Contact, Media: Trusted News Discovery Since 2008. Starbucks initiated its dividend in 2010 and has increased it in each of the past 12 years. Starbucks Corp. illegally fired six employees in New York State "in response to union activity," a National Labor Relations Board judge ruled Wednesday. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. There, he said he partook in the Mediterranean custom of enjoying a spoonful of extra-virgin olive oil daily and wondered what it would be like to try it with his coffee. SEATTLE-- (BUSINESS WIRE)-- Starbucks Corporation (NASDAQ: SBUX) today announced that its Board of Directors has approved an increase in the company's quarterly cash dividend from $0.49 to $0.53 per share. Got a confidential news tip? You can sign up for additional subscriptions at any time. Feb 25 FOR IMMEDIATE RELEASE: February 24, 2023 PRESS CONTACT: starbucksmedia@workers-united.org Somerville, MA Today, workers at the Somerville Ave. Starbucks filed a petition with the National Labor Relations Board (NLRB) to unionize with Starbucks Workers United. Schultz, who has been CEO of Starbucks on and off since the 1980s, told CNN that he returned to the company because it had "lost its way culturally" and he intends to "restore those values." Schultz has previously refused to appear before the committee. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. Employees first filed a union petition with the National Labor Relations Board in January. Starbucks Corp. illegally fired six employees in New York State as part of an anti-union reign of coercion, a US National Labor Relations Board judge ruled Wednesday. Schultz told CNBC in September he's "never coming back again" as chief executive. Today I feel just as inspired as I did 40 years ago, Oleato has opened our eyes to fresh new possibilities and a transformational way to enjoy our daily coffee,” said Schultz. articles a month for anyone to read, even non-subscribers! Starbucks Announces Q1 Fiscal Year 2023 Results Conference Call SEATTLE, January 19, 2023--Starbucks Corporation (Nasdaq: SBUX) plans to release its first quarter fiscal year 2023 financial. On the morning of the Oleato launch, I arrived at 9 a.m., eager to try the new beverages. Studies have suggested that consuming olive oil can reduce inflammation and help heart health. A second Starbucks in Las Vegas unionized with Starbucks Workers United after a Tuesday night vote. Starbucks threatened and interrogated workers, restricted discussion of pay and deployed high-ranking officials to make repeated and unprecedented visits to stores in order to more closely supervise, monitor, or create the impression that employees union activities are under surveillance, the judge wrote. Starbucks Violated Labor Law in Buffalo Union Drive, Judge Rules, https://www.nytimes.com/2023/03/01/business/economy/starbucks-union-buffalo-ruling.html. Starbucks is launching olive oil-infused coffee in Italy, with plans for a U.S. launch this spring. But in less than 10 minutes, the olive oil started to separate from the rest of the ingredients, causing an unappetizing oil barrier on top and around the edge of the cup. Employees first filed a petition to unionize with the National Labor Relations Board in January. We will not rest until every Starbucks worker wins the right to organize.. We will continue to fight and hold billionaires like Howard Schultz accountable for their actions. Starbucks Corp. illegally fired six employees in New York State as part of an anti-union reign of coercion, a US National Labor Relations Board judge ruled Wednesday. The chilled beverage had a spoonful of olive oil, just like the caff latte, as well as a tasty hazelnut syrup. In a statement, Starbucks called Sanders' announcement a disappointing development and reiterated its offer to send AJ Jones II, its chief public affairs officer, to testify instead. 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Regional officers for the National Labor Relations Board have filed 79 complaints against the company for various issues, including failure to bargain, according to a board spokesperson. Union supporters say they want higher pay and more consistent schedules, among other issues. That means customers now need to spend $162.50, or $37.50 more than a year ago, to earn a free burrito. Press Releases February 28, 2023 LIBERAL, Kansas, February 28, 2023 - Marcus & Millichap Real Estate Investment Services of Kansas, Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Starbucks & T-Mobile Shops, a 4,743 . Research that delivers an independent perspective, consistent methodology and actionable insight, Introducing Starbucks Oleato a Revolutionary New Coffee Ritual, Starbucks Announces Q1 Fiscal Year 2023 Results Conference Call, Starbucks and DoorDash Set to Expand Delivery Partnership Nationwide, Starbucks Declares Quarterly Cash Dividend, Starbucks Reports Q4 and Full Year Fiscal 2022 Results. The employees were giving out samples of green-tinted Oleato coffees, and the store's large posters and window displays seemed to successfully draw in curious shoppers and commuters. This increase will be effective with the dividend payment to be distributed on November 25, 2022, to shareholders of record on November 11, 2022, and raises the companys annual dividend rate to $2.12 per share. Later this year, Japan, the Middle East, and the United Kingdom will launch the beverages. After submitting your information, you will receive an email. These beverages aren't available at all locations. You can sign up for additional subscriptions at any time. Data is a real-time snapshot *Data is delayed at least 15 minutes. Starbucks Reports Q1 Fiscal 2023 Results Q1 Consolidated Net Revenues Up 8% to a Record $8.7 Billion Q1 Comparable Store Sales Up 5% Globally; Up 10% in the U.S; Up Double Digits Internationally, Excluding China Q1 GAAP EPS $0.74; Non-GAAP EPS $0.75; Performance Materially Impacted by Headwinds in China "Winning our election is a huge win for the barista in our store and the rest of the valley. The Red Velvet Loaf as well as the Pistachio Cream Cold Brew and Pistachio Latte are available now at participating stores nationwide for a limited time while supplies last. In a call with analysts in early February, Brian Niccol, the chief executive of Chipotle . Workers at the Starbucks on Tenaya Way and Azure Drive voted in favor of joining the union by a vote of 18-3, according to a news release. Consider the launch a parting gift from Schultz, whose third stint as head of the company comes to an end in April. By clicking Sign up, you agree to receive marketing emails from Insider Starbucks Announces Increase in Quarterly Cash Dividend, Contact Information and Shareholder Assistance, https://www.businesswire.com/news/home/20220928006026/en/. Phoebe Hunt. The idea was born from a trip that outgoing CEO Howard Schultz took to Italy this summer, where he witnessed Sicilians drinking olive oil as a daily ritual. I'd probably try the Oleato iced shaken espresso again and make sure to drink it quickly before the oil has time to separate. In the early months of the campaign, Starbucks workers complained that executives and other company officials were converging on Buffalo in an attempt to undermine their unionization effort. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together. The judge wrote that Starbucks had committed hundreds of violations of federal law at its cafes in the Buffalo and Rochester areas, demonstrating a general disregard for the employees fundamental rights., As part of the ruling, the judge said Starbucks should be ordered to recognize a union at its store in Hamburg, New York, despite a previous union loss, because of its egregious and widespread misconduct.. We also use them to share usage information with our partners. Each one contains a spoonful of Partanna, an Italian brand of extra-virgin olive oil. Live market coverage co-anchored from Hong Kong and New York. There are echoes of Schultz's last transition from the chief executive job. While Howard Schultz is a multi-billionaire who runs a very profitable multi-national corporation he must understand that he and his company are not above the law, Sanders said. Track your investments 24 hours a day, around the clock from around the world. We will not release or resell your information to third parties without your permission. The initial Oleato lineup of drinks will infuse olive oil into Starbucks' Caff Latte, Iced Shaken Espresso and cold foam. Cookies are used to offer you a better browsing experience and to analyze our traffic. At least 289 company-owned U.S. Starbucks stores have voted to unionize since late 2021. Currency in USD, Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies. Whether you enjoy Oleato hot or cold, you get this really luxurious, textural experience.” Read more about the inspiration and creation of these beverages here. Photo by ANGELA WEISS/AFP via Getty Images. In a statement, Sanders said he was taking the rare step of voting to subpoena because Schultz hasnt responded to repeated requests to meet and provide documents to the committee. It is rare but not unprecedented for a judge to effectively order in a union upon concluding that it had support among workers but that a fair vote is nearly impossible. In a sweeping decision, an administrative judge in New York ruled on Wednesday that Starbucks had violated federal labor law dozens of times in responding to a union campaign in the Buffalo area shortly after the campaign began roughly 18 months ago. Financial Market Data powered by QuoteMedia. Rulings by NLRB judges can be appealed to labor board members in Washington, and can then be appealed into federal appeals court. We want to hear from you. You must click the link in the email to activate your subscription. An email was sent with password retrieval instructions. Starbucks' new Oleato line features three olive oil-infused coffee beverages. Select lots of 13.7-ounce glass bottled Starbucks Frappuccino Vanilla drinks have been voluntarily recalled, a representative for PepsiCo, on behalf of the North American Coffee Partnership, said in a statement to ABC News. 2023 CNBC LLC. The Partanna olive oil is steamed with oat milk for the latte, shaken in the iced espresso drink and infused in vanilla sweet cream foam to create the "golden" foam that tops cold brews. Sign up for notifications from Insider! The first sips of both iced drinks were pleasant and complex, and they'll probably go down easily for iced-coffee enthusiasts. You hear horror stories. Maggie Jantzen View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005753/en/, Get the latest news and updates from Stockhouse on social media, Stockhouse.com uses cookies on this site. -1.91 -1.85%. Each one contains a spoonful of Partanna, an Italian brand of extra-virgin olive oil. Tiffany Willis Although our barista served the drink with a straw, they recommended tasting it first without one to really experience the olive-oil foam. STARBUCKS CORP. 101.60. A replay of the webcast will be available on the companys website until end of day, Friday, March 3, 2023. Oleato means "with oil," according to Starbucks. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. Starbucks has said repeatedly that all claims of anti-union activity there are categorically false.. The judge found that Starbucks had committed dozens of violations of federal law at its cafes in and around Rochester and Buffalo. Unions offer a route for workers to seek better work-life balance, higher pay, and greater job security without having to move roles. The olive-oil flavor was still very strong, but the hazelnut syrup gave the beverage a subtle sweetness, too. 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