Starbucks same-store sales rose 6 percent last quarter and are projected to climb 5.8 per cent in the current period, according to data compiled by Bloomberg. The chain has the ability to raise prices to help compensate for the increased worker wages, Saleh said.
Starbucks didn't indicate how much the pay increases would cost. But the coffee company previously said that investments in employees and digital operations will amount to as much as $300 million this fiscal year, more than double the roughly $145 million it spent in 2015.
Starbucks also plans to raise prices on certain beverages on Tuesday. The company said earlier this month that some cafes incorrectly overcharged customers as much as 30 cents ahead of the planned hike.
In addition to the compensation changes, Seattle-based Starbucks is loosening its dress code, Schultz said. Details on that policy change will be released by the end of this month.
"We've heard your requests for more freedom when it comes to bringing your 'whole self' to work," he said. "Our latest dress code changes are designed to work well with the green apron while expanding your options, providing more room for self-expression, and allowing you to choose from items that may already be part of your everyday wardrobe."