Starbucks officials are speeding up plans to roll out its mobile ordering and payment services development program.
"We have a winner, and it's running ahead of our expectations," Chief Financial Officer Scott Maw told analysts and investors at an investment conference in New York, the Seattle Times reports.
The new feature, which which was originally set for an end-of-year nationwide release, will now be launched later this month. Currently, the mobile ordering and payment application is available in hundreds of stores across the Pacific Northwest and is available exclusively on Apple devices.
The announcement comes as new financial reports demonstrate growing investment confidence in Starbucks, which hit an all-time stock quote high of $59.31 in late July.
Last month, Chairman and Chief Executive Officer Howard Schultz urged baristas, whom he refers to as "partners," to "be very sensitive" to customers at locations around the country.
His reason? The recent stock market downturn. In late August, stock values around the world dropped dramatically. The United States stock market, for example, surrendered $2.1 trillion of value.
Schultz explained in a memorandum sent to Starbucks employees that "today's financial market volatility, combined with great political uncertainty both at home and abroad, will undoubtedly have an effect on consumer confidence," the Chicago Tribune reports.
"Our customers are likely to experience an increased level of anxiety and concern.," he added. "Please recognize this and - as you always have - remember that our success is not an entitlement, but something we need to earn, every day."
Starbucks was established in 1971 in Seattle.
