Operator
Good afternoon. My name is Hector, and I will be your conference operator today. I would like to welcome everyone to Starbucks Coffee Company s Third Quarter Fiscal Year 2021 Conference Call. [Operator Instructions]
I would now turn the call over to Greg Smith, Vice President of Investor Relations. Mr. Smith, you may begin your conference.
Greg Smith
Vice President, Investor Relations
Good afternoon everyone. Thank you for joining us today to discuss Starbucks third quarter fiscal year 2021 results. Today s discussion will be led by Kevin Johnson, President and CEO; and Rachel Ruggeri, CFO. And for Q&A, we will be joined by John Culver, Group President, North America and Chief Operating Officer; Mike Conway, Group President, International and Channel Development; and Belinda Wong, Chairman and Chief Executive Officer, Starbucks, China.
Author Bio
A Fool since 2019, and a graduate of Cal State LA with a B.S. in Finance and M.A. in Economics. Parkev is an adjunct professor of Finance and enjoys reading about financial and economic history. You ll often find him writing about stocks in the consumer goods and technology sectors. Follow @TMFParkev
The coronavirus outbreak caused a sudden halt to business as usual worldwide. Companies were no longer afforded the ability to rely on old ways of doing business, and on came a creative reshuffling of operations and changes that may last beyond the aftermath of the pandemic.
Dive Brief:
Some Starbucks supply chain partners have struggled getting deliveries from distribution centers to stores due to labor shortages, the coffee chain s CEO Kevin Johnson said on a Q2 earnings call Tuesday.
Starbucks is working with its partners on labor-shortage issues, but said it is not currently a widespread problem. I do anticipate we ll do a little bit more to invest and help our supply chain partners, whether it s staff that they need in manufacturing or staffing they need for distribution and transportation, Johnson said.
The distribution issue comes after Starbucks announced plans last year to increase store throughput by rapidly transforming store layouts to add Starbucks Pickup and drive-thrus to meet shifting consumer behaviors.
The “Great Human Reconnection” starts with a cup of coffee and a hefty dose of AI from Starbucks
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Summary:
We ve been locked up at home for so long that the urge for reconnecting with other human beings has never been stronger. What better than a lazy afternoon in a coffee shop to celebrate the Vaccine Economy? Starbucks CEO Kevin Johnson has been keeping an eye on progress.
Coming soon.
The “Great Human Reconnection” is underway and Starbucks digital DNA is going to be ready to adapt to the new realities of the Vaccine Economy, says CEO Kevin Johnson, bullishly declaring: