Starbucks plans to open a new chain of shops that will sell smoothies! We're pretty excited if this means we can pick up coffee AND a healthy smoothie for breakfast first thing!
The coffee super firm has bought Evolution Fresh, an upmarket American fruit juice brand, for $30 million (in cash). Evolution Fresh is available in supermarkets on the West Coast of the US. Starbucks however hope to use Evolution to create another retail chain that "will define the super-premium juice category and experience" in the same way it did to coffee houses. Planning to "draft off the success of the Starbucks brand" CEO Howard Schultz said that the store will be a "mirror image" of Starbucks Cafes. Starbuck's shares have risen 35% this year and stood at $43.52 during close of play in NY on Thursday.
A little bit about Starbucks...
Name: Starbucks, after the first mate in Moby Dick. Their logo, a twin tailed siren
Founded: 1971
Chairman: Howard Schultz (who first walked into the shop into the shop in 1981)
Revenues: $11.9 billion in 2011
Shares: Went public 1992 at $17 per share. Close play in NY Thursday $43 per share
Number of Stores: 17,009 (Jan 2011) of which 8,870 company owned and 8,139 licensed
Number of Countries invaded: 50+
Tough Times: 2008-2009 Starbucks faced difficult times shutting hundred of its cafes as sales and profits declined due to overbuilding and a consumer led recession. Howard Schultz has written a book all about it....
On the Menu: 7 Starbucks branded bottled drinks, 10 types of tea, 4 types of hot chocolate, 25 types of coffee, 12 Frappucinos, food and merchandize (lots of it!)
Most unhealthy product: A venti Eggnog Latte at 579 calories!
Healthiest product: A short filter coffee at 2.6 calories!
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