The coffee chain has 130 locations in the country, which account for less than 1% of its annual revenue.
Both consumers and investors pressured Western companies like Starbucks to cut ties with Russia to show opposition to the Kremlin's war with Ukraine, but unwinding licensing deals takes time. Starbucks. The pause included shipping all Starbucks products and temporarily shuttering cafes.
In its latest quarterly results released in early May, the company did not disclose the financial impact of the suspension of business operations. Former CEO Kevin Johnson had pledged to donate royalties from the Russian business to humanitarian causes.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Body of missing 15-year-old boy found in N.J. reservoir: officialThe body of the Paterson boy was found by the Passaic County Sheriff’s Office scuba team.
Read more »
Putin’s Russia Is Open for Business at Cannes Market: Buyers Quietly Try to Close DealsRussia may have been cut off from much of the international film community, but here at Cannes, members of the country’s media business are quietly trying to line up deals. Nearly three months into…
Read more »
Amazon, Starbucks among corporations bolstering abortion coverageWhile much of corporate America has remained quiet about the potential legal bombshell, some companies have taken a public stance and adopted new policies that expand employees' access to abortions.
Read more »
Opinion: Houston should require a bicycle licenseAlso: Twenty-five years ago, crossing 11th Street was a wait of maybe 15 seconds at most...
Read more »