Core Points - A recent incident involving Starbucks employees in Hunan and Zhejiang has raised concerns about the company's sales practices, specifically regarding the purchase of mooncakes for the Mid-Autumn Festival [1] - Starbucks has stated that it is verifying the claims made by the employees and emphasized that the company does not allow employees to purchase products on behalf of the company, highlighting this as a principle issue [1] - The company noted that its mooncakes are popular due to their unique flavors and designs, and encouraged customers to purchase them through official channels to protect their consumer rights [1] Summary by Category - **Employee Claims** - A part-time employee in Hunan reported being pressured to purchase 15 boxes of mooncakes, totaling nearly 3000 yuan, which strained their living expenses [1] - A full-time employee in Zhejiang mentioned having to purchase 5 boxes, costing over 1000 yuan, against a target of 25 boxes [1] - **Company Response** - Starbucks is currently investigating the situation and reiterated its policy against employees purchasing products for themselves [1] - The company highlighted the popularity of its mooncakes and urged customers to buy from authorized sources to ensure their rights are protected [1]

Core Insights - Recent reports indicate that Starbucks employees are facing pressure to purchase mooncakes due to unmet sales targets, with some part-time employees reportedly spending nearly 3000 yuan out of pocket [2][3] - The company is considering selling its China operations, with over 20 institutions expressing interest, and plans to retain a significant equity stake [4] - Starbucks' Q3 2025 financial results show a 4% increase in consolidated net revenue to $9.5 billion, despite a 2% decline in same-store sales globally [4][5] Group 1: Employee Sales Pressure - Multiple employees claim they are being forced to buy mooncakes to meet sales quotas, with one part-time employee stating they had to purchase 15 boxes, costing nearly 3000 yuan [2][3] - Full-time employees also report high sales pressure, with one stating they had to buy 5 boxes at a cost exceeding 1000 yuan, facing penalties for not meeting targets [3] - The company has denied knowledge of such practices, emphasizing that employees should not be required to purchase products themselves [3] Group 2: Business Operations and Financial Performance - Starbucks is exploring the sale of its China business, with potential buyers including Hillhouse Capital, Carlyle Group, EQT, and Sequoia China, and negotiations are in the final stages [4] - The estimated valuation for Starbucks' China operations ranges from $5 billion to $6 billion [4] - In Q3 2025, Starbucks reported a revenue of $7.9 billion in China, an 8% year-over-year increase, with a 2% rise in same-store sales [5]

责任编辑：江钰涵 9月11日，新浪财经从知情人士获悉，星巴克已将博裕资本、凯雷集团、EQT与红杉中国列为中国业务 出售的最终候选方。这项收购案已在最后一轮谈判阶段，将在10月底前敲定结果。 ...

针对此消息，星巴克方面在发稿前，暂无回复。 9月11日，《每日经济新闻》记者从知情人士处获悉，星巴克将红杉中国、博裕资本、凯雷集团和殷拓 集团列入其中国业务出售的最终竞标候选名单。据知情人士透露，这4家机构已于上周收到确认函，此 次交易由高盛担任独家财务顾问，结果或于10月底公布。 星巴克中国此次的出售计划最初吸引了数十家竞标者，高瓴、贝恩、KKR、腾讯、华润、美团等都被 传为潜在买家。最终候选名单是在8月27日结束的一轮竞标后选出的。7月9日，据外媒报道，星巴克中 国股权出售已吸引到潜在的股权出售要约，估值高达100亿美元。 封面图片来源：每经原创 ...

Core Viewpoint - Recent reports from individuals claiming to be Starbucks employees indicate that they are being pressured to purchase mooncakes out of pocket due to unmet sales targets, raising concerns about the company's sales practices [1][2][3] Group 1: Employee Experiences - Part-time employees report being forced to buy mooncakes, with one individual stating they had to purchase 15 boxes, costing nearly 3000 yuan, which has strained their finances [1] - Full-time employees also face significant pressure, with one reporting a target of 25 boxes and having already purchased 5, amounting to over 1000 yuan, and potential penalties for not meeting sales goals [2] - There are multiple listings on second-hand platforms for reselling Starbucks mooncakes, with original prices of 358 yuan per box being sold for between 139 to 175 yuan [2] Group 2: Company Response and Business Strategy - Starbucks has stated that it does not allow employees to purchase products out of pocket and is currently verifying the claims made by employees [3] - The company is considering selling its business in China, with over 20 institutions reportedly interested in acquiring shares, while maintaining a significant stake in the market [3] - Potential buyers include well-known investment firms such as Hillhouse Capital and KKR, with valuations for the Chinese business estimated between 5 to 6 billion USD (approximately 36 to 43 billion yuan) [3] Group 3: Financial Performance - For the third quarter of fiscal year 2025, Starbucks reported a consolidated net revenue increase of 4% to 9.5 billion USD, despite a 2% decline in global same-store sales [3] - In the Chinese market, revenue reached 790 million USD, an 8% year-over-year increase, with same-store sales up by 2% [4] - The company opened 308 new stores in the third quarter, bringing the total number of stores to 41,097 globally, with 7,828 located in China [4]

Group 1 - Starbucks has shortlisted Boyu Capital, Carlyle Group, EQT, and Sequoia China as final candidates for the sale of its China business [1] - The acquisition deal is currently in the final negotiation stage and is expected to be finalized by the end of October [1]

Market Overview - The NASDAQ is experiencing a rise despite declines in major tech stocks like NVIDIA and Apple, which typically indicates a weak September for technology [1] - September is historically the weakest month for tech, but there are indicators suggesting a mild correction may occur [1] Seasonal Trends - Years ending in '5' have shown stronger performance, potentially offsetting seasonal weaknesses [2] - The first three trading days of September can predict the month's performance; positive results in these days may mitigate September's typical weakness [2] Stock Recommendations - **Buy Recommendation: Starbucks (SBUX)** - Historical data shows SBUX has risen 88% of the time from October 3rd to December 7th over the last 33 years, indicating a favorable seasonal period ahead [4] - Expected stock price rise to $91 or higher by year-end [4] - **Sell Recommendation: eBay** - eBay has shown a consistent downward trend, with September being the second weakest month over the last 27 years [5] - Expected stock price to trade around $85 by late October [5] - The stock is currently on a sell signal, indicating further declines are likely [6]

It's officially been one year since Starbucks chief Brian Nickel took the role and despite some high hopes, shares are in the red since then. Our Kate Rogers spoke with him in an exclusive interview and joins us again this morning. Hey again, Kate. Hi again, Carl.So for Nickel, a top priority in year one was improving the experience in US stores with his back to Starbucks plans and hospitality push, but questions remain about its business in China. Now, China, of course, is its second home market and has be ...

Core Insights - Brian Nickel has been CEO of Starbucks for a year and has initiated a strategy to revitalize the brand, focusing on creating cozier cafes and enhancing customer experience [1][7] - Starbucks announced a $500 million investment in hospitality through the Green Apron Service, which includes smart Q technology to improve staffing and customer engagement [2] - The company is seeing a positive response from both non-rewards and rewards customers, indicating a successful customer acquisition strategy [3][4] Investment and Strategy - The $500 million investment aims to enhance the hospitality experience and allow baristas to engage more with customers, delivering custom drinks in under four minutes [2][8] - Approximately 1,000 renovated cafes are planned to be completed by the end of 2026, emphasizing the importance of the consumer experience [7][8] - The company is shifting its marketing focus to attract non-rewards customers, which had been neglected previously [9] Consumer Insights - Current consumer behavior is mixed, but customers are responding positively to the changes made in stores, particularly when the Starbucks experience is aligned with their expectations [5] - The company has not increased prices recently, believing that its value proposition remains strong, especially as it positions itself as a premium experience [5] - Menu innovations, such as the introduction of protein coffee, are part of the strategy to attract a broader customer base [9]

One year ago, Brian Nickel took the reigns at Starbucks, setting the company on a journey to get back to its roots, improve customer service, and ultimately turn its sales around. I sat down with Nickel here in Seattle to talk about the company's transformative year and what's ahead in year two. Good morning, Brian.Great to see you. Thanks for having us here. Yeah, good morning.Good to be here. So, you are one year into this role as CEO. What in your opinion do you hope is the most tangible difference for a ...