This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Now You Can Tip Starbucks' Baristas Using an iPhone

NEW YORK (TheStreet) - Starbucks (SBUX - Get Report) customers can now give a tip to their favorite barista using their Apple (AAPL) iPhone.

The addition is part of the latest version of the Starbucks app for iPhone, the coffee chain announced on Wednesday as part of its investor day topics.

Starbucks has been looking to up the mobile ante as part of its retail strategy.

In late January, the company announced Chairman and CEO Howard Schultz would cede his daily management duties to Troy Alstead, who was stepping into the role of COO. The move was to allow Schultz focus on "Starbucks mission, growth initiatives and the convergence and integration of our retail and e-commerce, digital, card and mobile assets around the world. There has never been a more exciting time to be a Starbucks partner," he said on Jan. 29.

Must Read: Starbucks Aims To Be a '$100-Billion' Company

Mobile payment represents 14% of all in-store transactions at U.S. Starbucks. More than 25% of all transactions are made by its loyalty members through My Starbucks Rewards, the company said in a press release.

The company also noted its growth in gift card transactions, "with an estimated 1 in 8 American adults receiving a Starbucks Card this past holiday season, which translated to 1.5 million new customers registering their Starbucks Card and joining the My Starbucks Rewards loyalty program for the first time."

Starbucks chief digital officer Adam Brotman said in the release that the company now has more than 8 million My Starbucks Rewards members in North America. Globally, Starbucks Cards are available in more than 28 countries, and more than $18 billion has been loaded onto the card since the start of the program in 2001.

Starbucks also said on Wednesday that it is aiming to be a $100-billion market cap company as part of its long-term growth targets, nearly doubling its current market cap of approximately $57 billion.

"We're still in the early stages of the growth and development of Starbucks, we're delivering record profits and revenue, sharing our success with our partners and heading towards and past a $100 billion market cap," Schultz said in Wednesday's release.

--Written by Laurie Kulikowski in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SBUX $57.36 2.01%
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs