Starbucks (SBUX), the world's largest coffee-shop chain, on Wednesday unveiled a new logo that retains its iconic green mermaid but no longer includes the word "coffee." It's meant to reflect the company's efforts to expand sales through a broader array of menu and consumer-product items.
The mermaid is larger in the revised, but still-round logo, which no longer has the block-lettered words "Starbucks Coffee" surrounding the green and white "siren."
Starbucks founder and CEO Howard Schultz, in a statement Wednesday, called the change "a small but meaningful update to ensure that the Starbucks brand continues to embrace our heritage in ways that are true to our core values and that also ensure we remain relevant and poised for future growth."
In November, Starbucks reported that its profit for the quarter that ended Oct. 3 surged 86% from a year earlier, due to a combination of more foot traffic and a higher average check per customer. Same-store sales increased 8%, while revenue for its approximately 16,600 worldwide stores jumped 17% to $2.84 billion.