Almost 24,000 restaurants have closed during the pandemic, but Starbucks has been able to reopen more than 90 percent of its stores over the past few months. NBC senior business correspondent Stephanie Ruhle speaks exclusively with Starbucks CEO Kevin Johnson, who talks about what Starbucks is doing to give customers “experiences that are safe, familiar and convenient” during the pandemic.
Johnson said the company’s new operations model “will gradually expand and shift the customer experiences we enable in our stores. For example, some Starbucks stores will continue as drive-thru only, others may utilize the mobile ordering experience for contactless pickup and delivery and others may reopen for ‘to-go’ ordering.”
Starbucks CEO Kevin Johnson on Wednesday defended the company’s share buyback program as the coronavirus pandemic roils the restaurant industry.
“We’re being thoughtful and responsible,” Johnson said in a interview with Jim Cramer on CNBC’s “Mad Money.” “Look, we’ve got a strong balance sheet, BBB investment credit rating.
“We’ve been in China for 20 years. We realize that this is a temporary issue that we’ve got to deal with,” Johnson said on “Squawk on the Street.” “We’re doing it responsibly. We’re doing it by prioritizing the health and well-being of our Starbucks partners.”
Starbucks announced Thursday it’s selling its Tazo tea brand to