The company did not disclose the value of the settlement but said it would give details in a joint statement.
Robinson and Nelson were arrested after a manager called police to complain that they had not made a purchase and refused to leave. They were released hours later without being charged.
Starbucks plans to close 8,000 stores for a half day of anti-bias training on May 29.
"Starbucks will continue to take actions that stem from this incident to repair and reaffirm our values and vision for the kind of company we want to be," Starbucks Chief Executive Officer Kevin Johnson said in a statement.