But they also have over a billion cash at hand. I imagine at that scale and customers being private, the amount is pretty stable and Starbucks can just do whatever with this since it's extremely unlikely that customers demand all their money back at once.
Sorry, can they (customers) demand it back?
I mean, once Starbucks have it, then the customers get it back via product (that has a margin included), or just leave it forever (free money!)
I have a firm "No vouchers" rule because of this, the vouchers in my part of the world inexplicably "expire" if not used within a certain amount of time, cannot be redeemed for cash, and will not be honoured if the business goes belly up