Starbucks drops olive oil coffee as new boss shakes up menu

Published On Oct 30, 2024, 12:47 AM

Starbucks is discontinuing its olive oil-infused coffee drinks in the US and Canada starting in early November, following a period of declining sales. The decision coincides with new CEO Brian Niccol's strategy to simplify the menu after the company reported a 7% drop in global sales from July to September. While the olive oil drinks will remain available in select international markets, the move reflects an effort by leadership to streamline offerings in response to customer feedback and changing economic conditions.

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With the discontinuation of the olive oil coffee line, Starbucks is attempting to simplify its menu, which aligns with the CEO's strategy to drive customer interest. However, the recent drop in global sales indicates a challenging environment. If the new strategy successfully revitalizes customer interest and boosts sales, this could positively impact Starbucks' stock. However, the current economic challenges may limit immediate growth.

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