WHEN: Today, Friday, January 22nd
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a CNBC interview with Starbucks Corporation Founder, Chairman, President & CEO Howard Schultz on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET). Following are links to video of the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000486726, http://video.cnbc.com/gallery/?video=3000486725 and http://video.cnbc.com/gallery/?video=3000486723.
All references must be sourced to CNBC.
Schultz on the Future
THE FUTURE OF STARBUCKS COFFEE COMPANY IN CHINA AND GLOBALLY HAS NEVER BEEN STRONGER. THE BRAND HAS NEVER BEEN MORE RELEVANT. AND THIS IS A LONG-TERM STORY THAT PROBABLY IF YOU LOOK AT OUR PEER GROUP NOT ONLY WITHIN THE RESTAURANT AND RETAIL SECTOR BUT ANY BRICKS AND MORTAR RETAILER AROUND THE WORLD, WHOS PUTTING UP 4% GLOBAL TRAFFIC, 8% GLOBALLY, 9% IN THE U.S. AND 5% IN ASIA-PAC. ITS UNHEARD OF.
Schultz on Europe
OUR EUROPEAN BUSINESS UP UNTIL THE ACT OF TERROR WAS GOING VERY WELL. WE'RE EXPANDING IN EUROPE AS WE ARE ALL OVER THE WORLD AND I SEE NO REASON TO CONCLUDE ANYTHING OTHER THAN BUSINESS WILL RETURN AS USUAL IN THE COMING MONTHS AND QUARTER.
Schultz on Innovation
23% OF TENDER IS NOW MOBILE PAYMENT. MOBILE ORDER AND PAY IS WAY AHEAD OF PLAN. THEYRE INTRODUCING ALL OF THIS TO MARKETS ALL OVER THE WORLD. AND JUST WAIT UNTIL MOBILE ORDER AND PAY AND MOBILE ECOSYSTEM COMES TO ASIA, AND SPECIFICALLY CHINA TOWARD THE END OF THIS FISCAL YEAR. IT WILL HAVE A SIGNIFICANT CATALYTIC EFFECT ON THE BUSINESS AS IT HAS IN THE U.S.
Schultz on the Stock Being Undervalued
WE THINK THE STOCK IS UNDERVALUED RELATIVE TO CREATING LONG-TERM FOR OUR SHAREHOLDERS. AT THESE LEVELS, WE'LL BACK THE
TRUCK UP AND BUY AS MUCH STOCK AS WE CAN AND BE THOUGHTFUL AND DISCIPLINED ABOUT I. BUT THE STOCK IS UNDERVALUED RELATIVE TO OUR PERFORMANCE AND THE LONG-TERM VIEW WE HAVE ABOUT THE WORLD. WERE OPENING 500 NEW STORES A YEAR IN CHINA.
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