Starbucks unveils plan to add 17,000 locations by 2030, cut $3 billion in costs
Publishing timestamp: 2023-11-02 17:44:34
Summary
Starbucks plans to add 17,000 locations by 2030 and cut costs by $3 billion as part of its "reinvention" strategy. The company beat Wall Street's estimates for earnings and revenue, and aims to expand globally while increasing efficiency. However, it faces challenges with unionization efforts and allegations of labor law violations.
Sentiment: MIXED
Tickers: SBUX,
Keywords: starbucks corp, restaurants, lifestyle, business news, breaking news: business, business, retail industry, howard schultz,
Source: https://www.cnbc.com/2023/11/02/starbucks-unveils-expansion-plans-cost-cutting.html