Starbucks joins with (RED) in drinks promotion

Starbucks Corp. is trying to refocus in a tough economy as a company with a conscience, announcing a partnership with Bono’s (RED) label on Wednesday as it attempts to recover from a slowdown in consumer spending. The partnership with (RED), co-founded by the U2 frontman, will donate a portion of the proceeds of selected holiday Starbucks drinks to the Global Fund to help raise funds for and awareness of AIDS in Africa, where the coffee company buys some of its beans. The initiative announced Wednesday at a Starbucks conference in New Orleans, is part of the company’s “Shared Planet” initiative, meant to encourage greener, more community-minded practices within the company. It is the latest attempt at transformation for Starbucks, which had expanded quickly but has now begun to see its sales and traffic decline. The company posted its first quarterly loss this summer and has been closing underperforming stores in the U.S. and Australia. Image source: ap.google.com. > Continue.

News selected by Covalence | Country: Global | Company: Starbucks | Source: Associated Press