Seattle-based coffeehouse giant Starbucks Coffee Co has revealed in a communique that yesterday [Wednesday] marked its 10th anniversary as a publicly traded company.
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Since its initial public offering (IPO) in 1992, Starbucks has reported a 120 months of consecutive positive comparable store sales growth (company-operated stores open for at least 13 months). In 1991, the company launched a stock option programme for all eligible part-time and full-time employees.
Howard Schultz, Starbucks chairman and chief global strategist, said: “”In the early days, there were only a few members of the financial community who believed in our viability and staying power.
“Back then many people would have never dreamed that in ten years we would build a company, which in 1992 had a market capitalisation of approximately US$270m, into a company that today has nearly US$10bn in market capitalisation.”
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