SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): September 17, 2001
STARBUCKS CORPORATION
(Exact name of registrant as specified in its charter)
Washington (State or other jurisdiction of incorporation) |
0-20322 (Commission File Number) |
91-1325671 (I.R.S. Employer Identification No.) |
2401 Utah Avenue South
Seattle, Washington 98134
(Address of principal executive
offices, including zip code)
(206) 447-1575
(Registrants telephone number, including area code)
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Item 5. Other Events | ||||||||
SIGNATURES | ||||||||
EXHIBIT 99 |
Item 5. Other Events
Attached hereto as Exhibit No. 99 and incorporated herein by reference, is the text of a press release of Starbucks Corporation dated September 17, 2001.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Starbucks Corporation (Registrant) |
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Dated: September 17, 2001 | /s/ Michael Casey | ||
By: Michael Casey executive vice president, chief financial officer and chief administrative officer |
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EXHIBIT 99
Contact: |
Tracy Moran Starbucks Investor Relations 206-318-7806 |
Starbucks Announces Stock
Repurchase
Action Reflects Confidence in Companys Continuing Growth Prospects
SEATTLE; SEPTEMBER 17, 2001 Starbucks Corporation (Nasdaq: SBUX) today announced that its Board of Directors has authorized the repurchase of up to $60 million of the Companys common stock. Shares will be repurchased in the open market at times and prices considered appropriate by the Company. The timing of any purchases and the exact number of shares to be purchased will be dependent on market conditions.
This repurchase program reflects the confidence our Board of Directors and management have in U.S. financial markets and the future of Starbucks, and it demonstrates our commitment to pursuing opportunities for creating shareholder value, said Michael Casey, chief financial officer. The companys strong balance sheet will allow us to complete this stock repurchase program as well as fund our significant and exciting future growth plans.
Starbucks Coffee Company is the leading retailer, roaster and brand of specialty coffee in the world. In addition to its more than 4,600 stores in North America, the United Kingdom, continental Europe, the Middle East and the Pacific Rim, Starbucks sells coffee and tea products through its specialty operations, including its online store at Starbucks.com. Additionally, Starbucks produces and sells bottled Frappuccino® coffee drink and a line of superpremium ice creams through its joint venture partnerships. The Companys other brands enhance the Starbucks Experience through best-of-class products: Tazo Tea Company offers a line of innovative premium teas, and Hear Music produces and distributes a line of exceptional compact discs.