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Starbucks CFO to retire, guidance reaffirmed Starbucks Corp. said Thursday that Patrick Grismer, the coffee company’s chief financial officer, will retire in May 2021. Rachel Ruggeri, currently senior vice president for the Americas and a 16-year veteran of the company, has been named his successor, effective Feb. 1. Grismer will stay on as an advisor to Chief Executive Kevin Johnson until May 2. Starbucks also used the announcement to affirm its guidance for fiscal 2021, forecasting global comparable sales growth of 18% to 23%, comparable sales growth of 17% to 22% in the U.S. and Americas...

Starbucks insider Ruggeri to take over as CFO, Grismer to retire

By Reuters Staff 2 Min Read FILE PHOTO: A Starbucks logo is pictured on the door of the Green Apron Delivery Service at the Empire State Building in the Manhattan borough of New York, U.S. June 1, 2016. REUTERS/Carlo Allegri/File Photo (Reuters) - Starbucks Corp said on Thursday long-time executive Rachel Ruggeri would take charge as chief financial officer next month, replacing Patrick Grismer who will be retiring. Ruggeri, senior vice president of finance in the Americas, worked with Grismer in her current role, where she was responsible for planning and performance cafes across the region....

Dec 23, 2020 at 11:36AM Starbucks (NASDAQ:SBUX) is the world's leading coffee retailer. Not surprisingly, the company had an exceptionally difficult year due to the pandemic; temporary store closures and social distancing measures caused revenue to drop over 11% in fiscal 2020, and earnings fell even further, down 73%. Yet Starbucks's stock is up 17% year to date, outperforming the S&P 500, and it recently hit a new all-time high, which may have investors thinking the stock is overvalued. Here's why they're wrong.  The impact of COVID-19 In response to the pandemic, ...

Dec 21, 2020 at 8:28AM This morning ritual may sound familiar these days. Needing to take a break while you work from home, you drive to a Starbucks (NASDAQ:SBUX) to quickly grab a pumpkin spice latte, one of the coffee chain's most popular drinks. The company is almost ubiquitous around the globe with more than 18,000 stores in the U.S. and 14,000 in the rest of the world. Its growth has been remarkable: Starbucks had 16,858 stores at the end of fiscal 2010, but it wrapped fiscal 2020 with almost double that number, good for a compound annual growth rate of close to ...