Starbucks 2008

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Starbucks 2008 crisis. A victim of his own success?

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Starbucks 2008

  1. 1. Starbucks Coffee Guillermo Ramírez
  2. 3. Howard Schultz
  3. 9. Presencia
  4. 10. Crítica
  5. 11. Cultura del Café
  6. 12. Washington Rodrigues, Ipanema Farm general director since 1991 “ Through our 15-year relationship with Starbucks, we have increased the quality of our coffee while ensuring our land will grow the same high-quality coffee 100 years from now. We have worked for years to preserve our natural environment. Currently we’re working with the Rainforest Alliance and Starbucks to plant a 100-meter buffer of native plant species around a 200,000 km2 lake on the farm. Foxes, wolves and deer have already returned to the area, and we had to install “Deer Crossing” signs on the roadways—something not needed for years. It was an incredible surprise how fast the environment can recover when you focus on it.”
  7. 13. Eloy Zuñiga Guevara, painter “ I grew up in Nicoya, Guanacaste, Costa Rica, I like to portray the intangible and often imperceptible aspects of life and nature. I think these overlooked elements play vastly important roles in our everyday lives. I think this is why my work is moving in an even more abstract direction. I studied at La Academia de Arte de Costa Rica and have been fortunate to have exhibited my work all over my homeland, in New York, Barcelona, Rome, and Paris, among other international cities. I have original paintings available for a limited time in select Starbucks stores.”
  8. 14. Carmen Calderón and Ernesto Chacón “CoopeTarrazú is a large cooperative of mostly small-scale family farms. Carmen and I have owned our farm since 1963 and we see our beans growing better every day because of how much we care for our land.”
  9. 15. Latino América
  10. 16. Africa Medio Oriente Asia Océano Pacífico
  11. 17. Mezclas Multiregionales
  12. 18. Hoteles Aerolíneas Supermercados Starbucks Entertainment Librerías Starbucks.com <ul><li>Productos: </li></ul><ul><li>30 mezclas de café </li></ul><ul><li>Bebidas servidas calientes y frías </li></ul><ul><li>TAZO Té </li></ul><ul><li>Chocolate </li></ul><ul><li>Ethos Agua </li></ul><ul><li>Frappuccino – Café Frapé </li></ul><ul><li>Double Shot – Energizante </li></ul><ul><li>Barista – Maquina Espresso </li></ul><ul><li>Moledoras de café </li></ul><ul><li>Tostadoras de café </li></ul><ul><li>Pastelería </li></ul><ul><li>Helados </li></ul><ul><li>Sandwiches </li></ul><ul><li>Mugs – Accesorios </li></ul><ul><li>CDs - Descargas </li></ul><ul><li>Regalos </li></ul>Compra Global de Café Cadena de Suministro y Operaciones Logística Internacional Marketing Plantas de Producción Propias Nuevas tiendas: Alianzas Globales: VISA Apple Itunes Hewlett Packard Kraft Foods Grand Ice Cream Pepsi-Cola Kroger XM Satellite Radio Sodexho AT&T Starbucks Coffee Starbucks Card (160 millones) Hear Music 172,000 Asociados (09/07) >15.000 Tiendas
  13. 19. Crecimiento Tiendas
  14. 21. Competencia *Rank Fortune 500 – 2007 **Best company to work for in USA 2006: #29 2007: #16 2008: #7 SBUX MCD YUM Compañía Starbucks Corporation 194.000 empleados *Rank: 277 **Best Company: 7 McDonald's Corporation 390.000 empleados *Rank: 106 Yum Brands Inc. 48.160 empleados >1 millón empleos totales *Rank: 253 Subsidiarias Tazo Tea Company Seattle's Best Coffee Torrefazione Italia Hear Music *** Ethos Water *** Vendida en abr-08 Boston Market *** Chipotle Mexican Grill *** Pret A Manger *** Vendidas en 2007 Kentucky Fried Chicken Pizza Hut Taco Bell Long John Silver's A&W Wing Street
  15. 22. Marcas SBUX MCD YUM Marcas <ul><li>Frappuccino </li></ul><ul><li>Seattle’s Best Coffee </li></ul><ul><li>Tazo </li></ul><ul><li>Doubleshot </li></ul><ul><li>Starbucks Entertainment </li></ul><ul><li>Starbucks Hear Music </li></ul><ul><li>Ethos water </li></ul><ul><li>Torrefazione Italia Coffee </li></ul><ul><li>Big Mac </li></ul><ul><li>Chicken McNuggets </li></ul><ul><li>Cinnamon Melts </li></ul><ul><li>Egg McMuffin </li></ul><ul><li>Espresso Pronto </li></ul><ul><li>Filet-O-Fish </li></ul><ul><li>Hamburger University </li></ul><ul><li>Happy Meal </li></ul><ul><li>I’m lovin’ it </li></ul><ul><li>McCafé - McFlurry </li></ul><ul><li>McGriddles </li></ul><ul><li>McSkillet Burrito </li></ul><ul><li>Quarter Pounder </li></ul><ul><li>Snack Wrap </li></ul><ul><li>Teriyaki Mac… </li></ul><ul><li>KFC </li></ul><ul><li>Original Recipe </li></ul><ul><li>Extra Crispy </li></ul><ul><li>Colonel's Crispy Strips </li></ul><ul><li>Honey BBQ Wings </li></ul><ul><li>Pizza Hut </li></ul><ul><li>Thin 'N Crispy </li></ul><ul><li>WingStreet </li></ul><ul><li>Taco Bell </li></ul><ul><li>Border Bowls </li></ul><ul><li>Long John Silver's </li></ul><ul><li>A&W </li></ul><ul><li>All-American Food </li></ul><ul><li>A&W Root Beer </li></ul>
  16. 23. Establecimientos Estableci-mientos (2007) <ul><li>15.760 tiendas (+26,7%) </li></ul><ul><li>0 franquicias </li></ul><ul><li>6.875 lic./joint ventures </li></ul><ul><li>8.885 propias </li></ul><ul><li>44 países </li></ul><ul><li>31.377 restaurantes (+0,9%) </li></ul><ul><li>20.505 franquicias </li></ul><ul><li>3.966 afiliados </li></ul><ul><li>6.906 propios </li></ul><ul><li>118 países </li></ul><ul><li>35.345 restaurantes (+2,3%) </li></ul><ul><li>24.297 franquicias </li></ul><ul><li>3.423 afiliados </li></ul><ul><li>7.625 propios </li></ul><ul><li>110 países </li></ul>(2006) <ul><li>12.440 tiendas </li></ul><ul><li>31.046 restaurantes </li></ul><ul><li>34.545 restaurantes </li></ul>Por regiones <ul><li>USA: 11.170 (71%) </li></ul><ul><li>Internacional: 4.590 (29%) </li></ul><ul><li>USA: 13.774 (44%) </li></ul><ul><li>Internacional: 17.603 (56%) </li></ul><ul><li>USA: 19.905 (56%) </li></ul><ul><li>Internacional: 12.354 (44%) </li></ul>China <ul><li>250 tiendas </li></ul><ul><li>900 restaurantes </li></ul><ul><li>Plan 2008: +125 restaurantes </li></ul><ul><li>KFC: 2.592 </li></ul><ul><li>Pizza Hut: 480 </li></ul><ul><li>130.000 empleados </li></ul><ul><li>Plan 2008: +425 restaurantes </li></ul>
  17. 24. Valoración Mkt. Cap. = Market Capitalization (No. de acciones X Precio de la acción) – Mayo 2 / 2008 TTM = Trailing Twelve Months (Últimos doce meses) – Abr/07 – Abr/08 SBUX MCD YUM Mkt. Cap. (Mil) $ 11.971 M $ 69.076 M $ 19.186 M Price/ Earnings (TTM) 19,40 28,20 22,10 Price/ Sales (TTM) 1,27 3,03 1,84 Earnings Per Share (TTM) $ 0,85 $ 2,16 $ 1,83
  18. 25. Efectividad ROE = Utilidad / Patrimonio ROA = Utilidad / Activos Totales TTM = Trailing Twelve Months – Abr/07 – Abr/08 SBUX MCD YUM Return on Equity ROE (TTM) 28,10 % 16,90 % 255,70 % Return on Assets ROA (TTM) 11,50 % 8,80 % 14,00 %
  19. 26. Razones Financieras Quick Ratio = Prueba Ácida = (Activo corriente – inventarios)/Pasivo corriente Current Ratio = Razón Corriente = Activo corriente / Pasivo corriente LT Debt/Equity = Deuda a largo plazo / Patrimonio MRQ = Most Recent Quarter (Último Trimestre) – Q1/08 SBUX MCD YUM Quick Ratio (MRQ) 0,51 0,77 0,60 Current Ratio (MRQ) 0,77 0,80 0,66 LT Debt/ Equity (MRQ) 0,24 0,48 8,90
  20. 27. Comparación 2007 SBUX MCD YUM Revenue $ 9.411 M $ 22.787 M $ 10.416 M Total Net Income $ 673 M $ 2.395 M $ 909 M Earnings Per Share $ 0,87 $ 1,98 $ 1,68 EBITDA $ 1.437 M $ 6.752 M $ 1.852 M LT Debt $ 550 M $ 7.300 M $ 2.900 M Stores 15.760 31.377 35.345 Rev./Store $ 597.144 $ 726.232 $ 294.695 Net/Store $ 42.703 $ 76.329 $ 25.717
  21. 28. Trayectoria Millones USD Operating Revenue 2007 9.411 +20,8% 22.787 +9,05% 10.416 +8,94% (Ingresos operacionales) 2006 7.787 +22,3% 20.895 +9,30% 9.561 +2,26% 2005 6.369 +20,3% 19.117 +2,81% 9.349 +2,27% 2004 5.294 +29,9% 18.594 NA 9.011 NA Gross Operating Profit 2007 2.221 23,6% 9.119 40,0% 3.145 30,2% (Utilidad bruta) 2006 1.687 21,7% 8.181 39,2% 2.946 30,8% 2005 1.438 22,6% 7.426 38,8% 2.748 29,4% 2004 1.177 22,2% 7.104 38,2% 2.574 28,6% EBITDA 2007 1.437 15,3% 6.752 29,6% 1.852 17,8% 2006 1.214 15,6% 5.886 28,2% 1.724 18,0% 2005 1.081 17,0% 5.308 27,8% 1.538 16,4% 2004 873 16,5% 5.165 27,8% 1.518 16,8% Total Net Income 2007 673 7,14% 2.395 10,5% 909 8,72% (Utilidad neta) 2006 564 7,24% 3.544 16,9% 824 8,62% 2005 494 7,75% 2.602 13,6% 762 8,15% 2004 388 7,33% 2.278 12,3% 740 8,21%
  22. 29. Resultados SBUX USD Millones
  23. 30. Resultados MCD USD Millones
  24. 31. Resultados YUM USD Millones
  25. 32. Comparación Ventas USD Millones
  26. 33. Comparación Util. Bruta USD Millones
  27. 34. Comparación EBITDA USD Millones
  28. 35. Comparación Util. Neta USD Millones
  29. 36. Comparación 2005
  30. 37. Comparación 2006
  31. 38. Comparación 2007
  32. 39. Comportamiento de las Acciones
  33. 40. SBUX
  34. 41. MCD
  35. 42. YUM
  36. 43. SBUX (10 años)
  37. 44. MCD (10 años)
  38. 45. YUM (10 años)
  39. 46. SBUX vs. MCD
  40. 47. SBUX vs. YUM
  41. 48. SBUX vs. MCD (10 años)
  42. 49. SBUX vs. YUM (10 años)
  43. 50. SBUX vs. MCD (1 año) Mayo 2007 – Mayo 2008
  44. 51. SBUX vs. YUM (1 año)
  45. 52. El Factor Humano
  46. 53. <ul><li>Employees STARBUCKS </li></ul><ul><ul><li>U.S. employees 134,013 </li></ul></ul><ul><ul><li>Employees outside U.S. 60,794 </li></ul></ul><ul><li>Jobs </li></ul><ul><ul><li>New jobs (1 year) 2,519 </li></ul></ul><ul><ul><li>% job growth (1 year) 15 </li></ul></ul><ul><ul><li>% voluntary turnover 13 </li></ul></ul><ul><ul><li>Applicants 705,195 </li></ul></ul><ul><li>Pay Average annual pay </li></ul><ul><li>Most common job (salaried): </li></ul><ul><ul><li>Store Manager $45,713 </li></ul></ul><ul><li>Most common job (hourly): </li></ul><ul><ul><li>Coordinator II $37,390 </li></ul></ul><ul><li>Benefits </li></ul><ul><ul><li>Professional training (hrs./yr.) 230 </li></ul></ul><ul><ul><li>Paid sabbaticals No </li></ul></ul><ul><ul><li>Onsite child care Yes </li></ul></ul><ul><li>Health </li></ul><ul><ul><li>100% health-care coverage No </li></ul></ul><ul><ul><li>Onsite fitness center Yes </li></ul></ul><ul><ul><li>Subsidized gym membership Yes </li></ul></ul><ul><li>Work-life </li></ul><ul><ul><li>Job sharing program Yes </li></ul></ul><ul><ul><li>Compressed workweek Yes </li></ul></ul><ul><ul><li>Telecommuting Yes </li></ul></ul><ul><li>Diversity </li></ul><ul><ul><li>% minorities 35% </li></ul></ul><ul><ul><li>% women 66% </li></ul></ul><ul><li>Has nondiscrimination policy </li></ul><ul><li>that includes sexual orientation? Yes </li></ul><ul><li>Offers domestic partner benefits </li></ul><ul><li>for same-sex couples? Yes </li></ul><ul><li>Best Company Rank 7 </li></ul>MICROSOFT 47.645 30.920 3.409 8 6 120.000 NA NA 40 No No Yes No Yes Tes Yes Yes 31% 25% Yes Yes 86 GOOGLE 8.134 4.114 3.039 60 NA 761.799 NA NA 120 No Yes No Yes Yes No No Yes 36% 33% Yes Yes 1 Comparación Laboral
  47. 54. Ejecutivos <ul><li>Chairman </li></ul><ul><li>President / Chief Executive Officer (CEO) </li></ul><ul><li>President – Starbucks Coffee International </li></ul><ul><li>President – Starbucks Coffee North America </li></ul><ul><li>EVP – General Counsel and Secretary (Secretario del Consejo General) </li></ul><ul><li>EVP – Chief Financial Officer (CFO) / Chief Administrative Officer (CAO) (Financiero y Administrativo) </li></ul><ul><li>EVP – Supply Chain and Coffee Operations (Cadena de suministro y Operaciones de Café) </li></ul><ul><li>EVP – Partner Resources (Asociados – Recursos Humanos) </li></ul><ul><li>SVP – Finance (Finanzas) </li></ul><ul><li>SVP – United Kingdom (Reino Unido) </li></ul><ul><li>SVP – Chief Information Officer (CIO) (Sistemas de Información) </li></ul><ul><li>SVP – Asia, Pacific (Asia y Pacífico) </li></ul><ul><li>SVP – Category Management (Almacenes de Cadena) </li></ul><ul><li>SVP – Partner Resources, International (Recursos Humanos Internacional) </li></ul><ul><li>SVP – North America Partner Resources (Recursos Humanos Norte América) </li></ul><ul><li>SVP – Europe, Middle East, Africa (Europa, Medio Oriente, África) </li></ul><ul><li>SVP – Coffee and Global Procurement (Café y Compras Globales) </li></ul><ul><li>SVP – Latin America </li></ul><ul><li>SVP – Global Communications (Comunicaciones Globales) </li></ul><ul><li>SVP – Emerging Businesses (Negocios Nuevos) </li></ul><ul><li>SVP – Total Pay (Tesorería) </li></ul><ul><li>SVP – Deputy General Counsel and Chief Compliance Officer (CCO) (Consejero Legal y de Cumplimiento de Regulaciones </li></ul><ul><li>SVP – Store Operation Services (Servicios de Operación de Tiendas) </li></ul><ul><li>SVP – Western Division (División Oeste) </li></ul><ul><li>SVP – Starbucks Entertainment (Entretenimiento </li></ul><ul><li>SVP – Global Consumer Products (Productos de Consumo) </li></ul><ul><li>SVP – Canada </li></ul><ul><li>SVP – Culture and Leadership Development (Desarrollo de la Cultura y el Liderazgo) </li></ul><ul><li>SVP – Marketing (Mercadeo) </li></ul><ul><li>SVP – Store Development (Desarrollo de Tiendas) </li></ul><ul><li>SVP – Global Manufacturing Operations (Operaciones de Manufactura Global) </li></ul><ul><li>SVP – Finance and Business Development International (Finanzas y Desarrollo de Negocios Internacionales) </li></ul><ul><li>SVP – Corporate Social Responsibility (Responsabilidad Social Corporativa) </li></ul><ul><li>SVP – Eastern Division (División Este) </li></ul><ul><li>SVP – Real Estate / Store Development International (Propiedades y Desarrollo de Tiendas Internacionales) </li></ul><ul><li>SVP – Consumer Products International (Productos de Consumo) </li></ul>
  48. 55. 1 Chairman 2 President / CEO 5 General Counsel 4 North America 3 International 6 CFO/CAO Financial Administrative President 7 Supply Chain / Coffee Operations EVP – Executive Vice President 8 Partner Resources (Human Resources) 24 Western Division 34 Eastern Division 27 Canada SVP – Senior Vice President 10 United Kingdom 12 Asia Pacific 16 Europe, M.East Africa 18 Latin America 9 Finance 21 Total pay 32 International 31 Manufact. 26 Products 11 CIO Info. 13 Category 23 Store Op. 20 Emer. Bs. 25 Entertain, 29 Marketing 30 Store Dev, 17 Procurem. 36 International 35 International 15 N.America 19 Communic. 22 CCO 28 Culture 33 Social Resp. 14 International

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