Starbucks Corp. is launching a new store format, Starbucks Pickup, that will be exclusively for Rewards members who use the mobile-order-and-pay option. New York City members can place their orders in the app, select the Penn Plaza location, and their order will be on a status board when they arrive. Baristas will be available to help. The system resembles the Starbucks Now express service store that launched in Beijing this summer. Luckin Coffee Inc. , a Starbucks competitor in China, also has stores with limited seating. Starbucks stock has rallied 40.6% for the year to date while the S&P 500 index is up 19.6% for the period.
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