September 20, 2011
Starbucks is the leading seller and roaster of specialty coffee globally. Their goal is to become the leading brand of coffee in its targeted markets by selling the finest quality coffee and associated products and providing customers with a unique Starbucks Experience. The Starbucks mission is to encourage and cultivate the human spirit one person, one cup, and one neighborhood at a time (Starbucks, 2011).
Three friends, Jerry Baldwin, Zev Siegl, and Gordon Bowker, created Starbucks in 1971 when they opened a small coffee shop (Starbucks, 2011). They sold gourmet coffee beans along with brewing and roasting ...view middle of the document...
In 1996, Starbucks opened its first store out of North American in Tokyo (Starbucks, 2011). In 1998, it extended to Great Britain purchasing 60 Seattle Coffee Company stores renaming them Starbucks (Starbucks, 2011). In San Francisco there were no stores because Baldwin had bargained a non-competition agreement to delay Starbucks for 10 years after the 1987 sale (Starbucks, 2011). The result of the deal is still apparent; Peet's Coffee and Tea is the most popular in the San Francisco region than Starbucks. Starbucks has opened stores inside the Forbidden Palace and Beijing, also opened two stores in Bucharest piercing the Romanian market. The free trade of coffee has revealed a growing profit of Starbucks sales since 2000. Currently, total Starbucks coffee sales through free trade accounts for 3.7% (Starbucks, 2011). The success of Starbucks' is largely because of word of mouth, and this has facilitated considerably in making Starbucks a household name globally.
Starbucks uses the audit firm Deloitte and Touche LLP of Seattle, Washington. The Starbucks Corporation ticker symbol is SBUX. There stock can be bought and sold on the NASDAQ Global Select Market.
Starbucks 2nd quarter cash equivalents total 1645,200 as of April 3, 2011 and 3rd quarter cash equivalent results were 1720,800 as of July 3, 2011 (Starbucks Corporation Balance Sheet, 2011). Starbucks...