Starbucks Claims $181M in Revenue From Unused Gift Cards and Loyalty Credits

Starbucks reportedly claimed $181 million in revenue from money on gift cards and loyalty accounts that customers didn’t spend in fiscal year 2021 — a figure that amounted to about 1% of its sales and 4.3% of its net income during the year.

The amount of unused credit claimed that year was up from $145 million in fiscal year 2000, Bloomberg reported Wednesday (Nov. 16).

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The growing amount of money left by customers on their stored-value cards and accounts was disclosed by the Strategic Organizing Center, an organization composed of labor unions, which filed a complaint Wednesday with the Securities and Exchange Commission (SEC) in which it requested an investigation into how the company accounts for that unused money.

www.pymnts.com/earnings/2022/starbucks-claims-181m-in-revenue-from-unused-gift-cards-and-loyalty-credits/

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