SEATTLE–(BUSINESS WIRE<\/a>)– This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230426005399\/en\/<\/a><\/p>\n Coming Together (Photo: Business Wire)<\/p>\n<\/div>\n \n\u201cBeing authentic and being vulnerable is a strength, not a weakness. Being open and honest and sincere is a strength,\u201d Schultz said at the Partner Open Forum, attended by 1,000 partners in person and another 15,000 who joined virtually. \u201cStarbucks is at its best when we are embracing our humanity. And this whole room right now is based on that, our common humanity.\u201d<\/p>\n \nThe Starbucks founder and current board member was in China this week on the heels of Starbucks 6,000th<\/sup> store opening<\/a> in China to fulfill a promise to visit and celebrate the partners of Starbucks fastest growing region.<\/p>\n \nStarbucks opened its first store in China in 1999 and has a rich history in the market based on cultural connection. In addition to the Partner Open Forum, this week Schultz visited stores to meet partners, to see the ways they are connecting with customers with the newly launched curbside service<\/a>, and to hold a fireside chat with students at Peking University<\/a>.<\/p>\n \n\u201cThere is a unique, loyal connection between Starbucks and the Chinese people. As I meet with partners and the China community, I am reminded how coffee is an international language, and it\u2019s truly been the driving force for how we connect with our customers in the region,\u201d said Schultz. \u201cI am extremely proud of our team in China and our 60,000 Starbucks partners who exemplify the responsibility of wearing the green apron. We particularly saw their dedication during the three years of the pandemic, and they continue to show up for one another while delivering a world-class customer experience every day.\u201d<\/p>\n Coming Together<\/b><\/p>\n \nDuring the Partner Open Forum on Monday, Schultz talked about the love and responsibility he feels for all Starbucks partners and his appreciation for Belinda Wong, Starbucks China\u2019s chief executive officer and her team.<\/p>\n \nAs the company expands its footprint across the region, partners continue to be at the core of the Starbucks Experience<\/i> in China. Since the beginning, Starbucks China\u2019s mission has always been to take care of partners and their families, and help them realize their goals and career aspirations, he said.<\/p>\n \nDuring the pandemic, as China and other parts of the world experienced prolonged periods of shutting down, Wong and other leaders focused on prioritizing the health and welfare of partners and their families.<\/p>\n \n\u201cIt\u2019s very easy to be a leader when you have the wind at your back. But a true leader \u2013 and in this case, the leadership team of China, shows up with their heart and their conscience and their commitment when the wind is in their face, when the challenges are so great,\u201d he said. \u201cAnd I\u2019m so proud of the team and how we all showed up for each other at a time that was so excruciating.\u201d<\/p>\n \nSchultz credited the partners for bringing customers back when Starbucks stores reopened. \u201cI knew in my heart that Starbucks would come roaring back in China because of the people in this room, and the 60,000 partners that you are representing, who wear the green apron,\u201d he said. \u201cAnd for that, I, with love in my heart, thank you so very much. Because I knew that when the pandemic ended, Starbucks would return to not only a healthier place, but a stronger place. And if anyone ever doubted that, they should be in this room right now and witnessing the extraordinary love that is in this room that you can\u2019t invent.\u201d<\/p>\n \nDuring the open forum, partners shared their personal stories. One partner, who joined the company last August, shared that Starbucks is a place where they feel like they truly belong.<\/p>\n \n\u201cWe know in the world, there is much resistance, but in Starbucks, whether its your ethnicity, gender or educational background, you join a team, enjoy your time, enjoy your work in Starbucks,\u201d the partner said.<\/p>\n \nSchultz stressed the importance of partners bringing their true selves to work and to support others in doing the same. \u201cYou understand that Starbucks Coffee Company\u2019s best days are not because we\u2019re chasing money, but our best days are because we are lifting each other up,\u201d he said.<\/p>\n Conversation with China\u2019s Gen Z<\/b><\/p>\n \nInvesting in education is deeply rooted in Starbucks mission globally. This week, Schultz led a fireside chat with 300 students at Peking University, one of the top public universities in China, to discuss the history of Starbucks China and the importance of putting people over profit. Students also had a chance to taste coffee made with different brewing methods by Starbucks partners.<\/p>\n \n\u201cI\u2019ve talked to Starbucks partners and customers from all over the world and at the end of the day, it\u2019s clear to me that we are more similar than we are different,\u201d he told the students. \u201cWe all have the same dreams: to make our families proud, have joy in our lives and to make an impact in the world. Coffee brings people together. It\u2019s a sense of community, it\u2019s a human connection, it\u2019s humanity. To be in the people business, you have to know your people and connect them to a core purpose and a reason for being that they can see themselves in.\u201d<\/p>\n Listening and Learning<\/b><\/p>\n \nAt both Starbucks Kerry Center location, the company\u2019s first flagship store in Beijing in 2013, and Heritage Culture store, Schultz had the opportunity to meet a number of partners, and thank them for their resiliency and commitment to each other and their communities. Schultz learned about the many ways partners lifted each other up through small and big acts.<\/p>\n \nOne partner, who has been with Starbucks eight years, shared a story about how one day, early in her career at Starbucks, her manager pulled her aside and she was nervous until she realized that her manager knew it was her birthday and wanted to acknowledge and celebrate it.<\/p>\n \n\u201cIt\u2019s just a little thing,\u201d said Schultz, \u201cbut it\u2019s just acknowledging and recognizing someone for who they are.\u201d<\/p>\n 2,500 Greener Stores<\/b><\/p>\n \nSince Starbucks opened its first store in the Chinese mainland in 1999, the company has focused on not only providing great food and beverages to consumers, but has also been at the forefront of retail innovation and sustainability in China.<\/p>\n \nStarbucks has a goal of operating 2,500 Greener Stores<\/a> in the Chinese mainland by 2025. In support of Starbucks 2030 goals of reducing carbon, water and waste footprints by 50 percent, the open-source Greener Stores Framework was co-developed with the World Wildlife Fund (WWF). The framework includes a set of 25 performance-based standards across environmental impact areas such as energy efficiency, water stewardship, and waste diversion, designed to accelerate the transformation of retail towards lower-impact stores.<\/p>\n Shaking Up the Chinese Coffee Ritual<\/b><\/p>\n Starbucks Oleato<\/a>, an innovative alchemy of the finest arabica coffee infused with Partanna extra virgin olive oil, has rolled out across more than 60 stores in Asia. As the company continues to expand its availability, partners in China had a unique opportunity to taste the company\u2019s latest beverage innovation this week.<\/p>\n While we\u2019re excited to introduce the transformational innovation, Oleato beverages are not yet available in Chinese stores.<\/i><\/p>\n >>Download Photos<\/b><\/a><\/p>\n About Starbucks<\/b><\/p>\n \nSince 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 36,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at stories.starbucks.com<\/a> or www.starbucks.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nCertain statements contained herein are \u201cforward-looking\u201d statements within the meaning of applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as \u201caim,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cfeel,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201coutlook,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements may include statements relating to trends in or expectations relating to the effects of our existing and any future initiatives, strategies, investments and plans, including our Reinvention plan, as well as trends in or expectations regarding our financial results and long-term growth model and drivers; our operations in the U.S. and China; our environmental, social and governance efforts; our partners; economic and consumer trends, including the impact of inflationary pressures; impact of foreign currency translation; strategic pricing actions; the conversion of certain market operations to fully licensed models; our plans for streamlining our operations, including store openings, closures and changes in store formats and models; the success of our licensing relationship with Nestl\u00e9, of our consumer packaged goods and foodservice business and its effects on our Channel Development segment results; tax rates; business opportunities, expansions and new initiatives, including Starbucks Odyssey; strategic acquisitions; our dividends programs; commodity costs and our mitigation strategies; our liquidity, cash flow from operations, investments, borrowing capacity and use of proceeds; continuing compliance with our covenants under our credit facilities and commercial paper program; repatriation of cash to the U.S.; the likelihood of the issuance of additional debt and the applicable interest rate; the continuing impact of the COVID-19 pandemic on our financial results and future availability of governmental subsidies for COVID-19 or other public health events; our ceo transition; our share repurchase program; our use of cash and cash requirements; the expected effects of new accounting pronouncements and the estimated impact of changes in U.S. tax law, including on tax rates, investments funded by these changes and potential outcomes; and effects of legal proceedings. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: the continuing impact of COVID-19 on our business; regulatory measures or voluntary actions that may be put in place to limit the spread of COVID-19, including restrictions on business operations or social distancing requirements, and the duration and efficacy of such restrictions; the resurgence of COVID-19 infections and the circulation of novel variants of COVID-19; fluctuations in U.S. and international economies and currencies; our ability to preserve, grow and leverage our brands; the ability of our business partners and third-party providers to fulfill their responsibilities and commitments; potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; costs associated with, and the successful execution of, the Company\u2019s initiatives and plans; new initiatives and plans or revisions to existing initiatives or plans; our ability to obtain financing on acceptable terms; the acceptance of the Company\u2019s products by our customers, evolving consumer preferences and tastes and changes in consumer spending behavior; partner investments, changes in the availability and cost of labor including any union organizing efforts and our responses to such efforts; failure to attract or retain key executive or employee talent or successfully transition executives; significant increased logistics costs; inflationary pressures; the impact of competition; inherent risks of operating a global business including any potential negative effects stemming from the Russian invasion of Ukraine; the prices and availability of coffee, dairy and other raw materials; the effect of legal proceedings; and the effects of changes in tax laws and related guidance and regulations that may be implemented, including the Inflation Reduction Act of 2022 and other risks detailed in our filings with the Securities and Exchange Commission, including in the \u201cRisk Factors\u201d and \u201cManagement’s Discussion and Analysis of Financial Condition and Results of Operations\u201d sections of the company\u2019s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings.<\/p>\n \nA forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this release. We are under no obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230426005399\/en\/<\/a><\/span><\/p>\n
\nHoward Schultz stood before the ballroom full of Starbucks (NASDAQ: SBUX) partners (employees) in Beijing with one ask: Open your hearts to each other.<\/p>\n![\"Coming](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774944\/4\/Coming_Together_Photo_1.jpg\")
<\/p>\n<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/265992\/3\/SBX_symbol_c.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774944\/3\/Coming_Together_Photo_1.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774945\/3\/Coming_Together_Photo_2.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774947\/3\/Coming_Together_Photo_3.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774948\/3\/Coming_Together_Photo_4.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774949\/3\/Coming_Together_Photo_5.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774950\/3\/Conversation_with_China%27s_Gen_Z_Photo_1.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774951\/3\/Conversation_with_China%27s_Gen_Z_Photo_2.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774954\/3\/Conversation_with_China%27s_Gen_Z_Photo_3.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774955\/3\/Conversation_with_China%27s_Gen_Z_Photo_4.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774956\/3\/Listening_and_Learning_Photo_1.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774959\/3\/Listening_and_Learning_Photo_2.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774960\/3\/Listening_and_Learning_Photo_3.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774962\/3\/Listening_and_Learning_Photo_4.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774963\/3\/2%2C500_Greener_Stores_Photo_1.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774964\/3\/2%2C500_Greener_Stores_Photo_2.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774965\/3\/Shaking_Up_the_Chinese_Coffee_Ritual_Photo_1.jpg\")
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005399\/en\/1774966\/3\/Shaking_Up_the_Chinese_Coffee_Ritual_Photo_2.jpg\")
<\/td>\n<\/tr>\n