The U.S. tax reform pushed by the Trump Administration has prompted many corporations to announce bonuses and wage hikes for their employees. Starbucks is one of the latest to boost its compensation and benefits package in light of the recent changes in U.S. tax law. Ron Crawford, VP of Benefits at Starbucks, was with us to discuss the company's investment in benefits.
Starbucks said the U.S. tax reform accelerated its latest investment in paid leave and wages. Had there not been tax reform, Crawford said Starbucks still would have made investments in compensation, but the timing and the extent of it may have been different. The offerings will total more than $250 million for more than 150,000 workers.
Digital apps and emerging technologies are driving more coffee runs to Starbucks, says Crawford. He believes digitization has brought more customers to its stores and boosted interactions between customers and employees. Starbucks is pumping in $7 billion of capital to build and renovate stores, manufacturing plants and technology platforms in the U.S. over the next five years.
Cheddar News takes a peek at another day of earnings, this time from Roku, Shopify, Twilio and Kraft Heinz along with a look at January retail sales numbers as well as other economic data.
Airbnb topped estimates in the latest quarter and reported its first profitable year. The company also gave a favorable first-quarter outlook, citing strong travel demand.
Mark Walker, co-founder and CEO, Direct Digital Holdings & Keith Smith, co-founder and President, Direct Digital Holdings, join Cheddar News to discuss the meaning behind launching just the ninth black-owned company to ever go public in the U.S., how Black History has impacted their careers, and how they plan to grow the company.
Lorenzo Esparza, CEO of investment firm Manhattan West, joined Cheddar News after a mixed day on the trading floor after the release of CPI data and his thoughts on what lies ahead with inflation.
Emily Irwin, managing director of advice & planning for Wells Fargo’s wealth & investment management arm, joined Cheddar News to discuss financial red flags when finding a partner.
Shai Eisenman, founder and CEO at Bubble Skincare, joined Cheddar News to discuss the company's product line geared for younger skin and how it's expanded its footprint with some big-name retailers.
