Starbucks CFO Reflects On Past 25 Years And What's In Store For The Future

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Monday marks the 25th anniversary of Starbucks Corporation SBUX becoming a public company. To commemorate the anniversary, Starbucks CFO Scott Maw was a guest on CNBC's "Squawk Box" to talk about the past and the future.

When Starbucks became a public company, it boasted just $100 million in revenue and 150 stores in five states which valued the company at the time at $250 million Maw said. Today, the coffee chain oversees 26,000 brick-and-mortar locations across 75 countries, more than 330,000 employees, around $21 billion in revenue and a stock valuation north of $85 billion.

Over the 25-year period, Starbucks has also given back around $1 billion in stock options to its employees, including those at the restaurant level serving customers.

What's Next? More Food

Going back five years and around 16 percent of Starbucks' total U.S. revenue was from food sales, Maw said. The number has grown to over 20 percent, in part due to the growth in lunch offerings where the company aims to provide "higher-quality, fresh food."

Starbucks is now testing a new food concept called "Mercado" in which stores only sell food that's made the same day to maximize freshness rather than selling pre-packed and frozen food.

So far the company is seeing very strong results so management will begin rolling out the concept from its test store in Chicago into new locations. This is part of the company's goal of delivering to customers an overall "experience" to become a "successful physical retailer" beyond the core product it sells or serves.

"For us it's really about that third-place environment-- the Starbucks experience, a gathering place, a sense of community, a sense of connection we provide in our stores," he said.

Related Links:

Starbucks Meets Q2 Expectations, Valuation Still Too 'Venti' For Some Investors

The Bull-Bear Debate On Starbucks Still Brewing

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Posted In: CNBCRestaurantsMediaGeneralfoodScott MawSquawk BoxStarbucksStarbucks Food
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