Starbucks CEO pledges to fundamentally change strategy as sales fall for third straight quarter
Publishing timestamp: 2024-10-30 19:30:01
Summary
Starbucks reported quarterly earnings and revenue that missed expectations, leading to a decline in global same-store sales. CEO Brian Niccol outlined a plan to improve the company's U.S. business, including reducing menu items and improving mobile ordering. The company plans to focus on North America for now and cut back on new cafes and renovations in fiscal year 2025. Shares of the company were flat in extended trading.
Sentiment: NEGATIVE
Tickers: SBUX,
Keywords: lifestyle, earnings, starbucks corp, china, breaking news: markets, retail industry, breaking news: business, business, united states, business news, markets, breaking news: earnings, restaurants, s&p 500 index, brian niccol,
Source: https://www.cnbc.com/2024/10/30/starbucks-sbux-q4-2024-earnings.html