Advertisement
Canada markets closed

  • S&P/TSX

    21,807.37
    +98.93 (+0.46%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CAD/USD

    0.7275
    +0.0012 (+0.16%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • Bitcoin CAD

    87,546.24
    +56.88 (+0.07%)
     

  • CMC Crypto 200

    1,379.26
    +66.63 (+5.07%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • RUSSELL 2000

    1,947.66
    +4.70 (+0.24%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • NASDAQ

    15,282.01
    -319.49 (-2.05%)
     

  • VOLATILITY

    18.71
    +0.71 (+3.94%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Starbucks shuffles management as it rolls out new store concepts

Reuters
A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles, California, United States, October 27, 2015. REUTERS/Lucy Nicholson

(Reuters) - Starbucks Corp (NasdaqGS:SBUX - News) on Monday said it was tweaking its management structure as part of a long-range growth strategy that includes opening new retail concepts, including upscale coffee shops and bakery outlets.

Cliff Burrows, head of Starbucks' U.S.-dominated Americas business for eight years, will lead a new group called Siren Retail.

Named for the chain's familiar logo, the new group will have responsibility for tea retailer Teavana, showcase Roastery stores, Reserve stores that sell small-lot coffees, and new Princi bakery locations.

John Culver, a 14-year Starbucks veteran, will become group president for global retail, with responsibility for Starbucks retail sales around the world. Culver had been group president for Starbucks China and Asia-Pacific, channel development and emerging brands.

(Reporting by Lisa Baertlein in Los Angeles)