Expect “recycling” to be a big buzzword at Starbucks when it announces second quarter results today.
The Seattle-based coffee retailer will hold its second “Cup Summit” in Boston on Thursday and Friday to talk about reusable cups. Shareholders recently turned down a proposal for more recycling in stores. The shareholder move is expected to allow the company to continue on its mission to make all of its cups be reusable or recyclable by 2015.
“Starbucks has taken action by creating a comprehensive strategy to minimize the environmental impact of our cups as well as other packaging in our stores,” the company said in a statement. “Our goal is to make our cups recyclable – both in form and in practice – over the next three years.”
Starbucks goes through 3 billion paper cups and 1 billion plastic cups per year, the company has said.
Analysts expect the company to announce a 50 percent earnings increase over last year’s second quarter. Starbucks has seen profits rise after closing unprofitable stores and adding new products like low-calorie sandwiches and instant coffee.
Starbucks’ stock has been trading recently near its 52-week high of $26 per share.
The earnings conference call will be broadcast on the Internet at http://investor.starbucks.com