Starbucks’s CEO Steps In to Tackle Long List of Issues
Published On Oct 30, 2024, 5:03 AM
Starbucks is facing a significant decline in customer loyalty, with a reported 7% drop in global same-store sales for the fourth quarter. New CEO Brian Niccol is aware of these issues, citing a frustrating store experience for customers, long wait times, and inconsistencies with products and inventory management. The company has also suspended its financial guidance for FY 2025, indicating the challenges ahead in restoring its customer base and improving operations.
Stock Forecasts
SBUX
Negative
Starbucks is currently struggling with customer dissatisfaction and declining sales. The situation may improve if Niccol manages to implement effective changes, but for now, it appears the brand is under considerable pressure.
Related News
Starbucks drops olive oil coffee as new boss shakes up menu
Oct 30, 2024, 12:47 AM
The announcement comes less than a week after the company reported falling global sales.
Jeff Bezos, Jay Powell, Serena Williams and More Will Speak at the DealBook Summit
Oct 29, 2024, 7:47 AM
The conference on Dec. 4 will bring together the biggest names in business, politics and culture.
Why Nike, Starbucks and Boeing have lost their magic
Oct 25, 2024, 6:37 PM
Three quintessentially American companies — Starbucks, Nike and Boeing — share a common predicament at the moment.