Reported about 15 hours ago
Starbucks reported disappointing global sales and profit, with a decline in comparable sales and increased costs due to inflation and economic uncertainty in the U.S. CEO Brian Niccol acknowledged difficulties in reviving the brand and has paused store revamp initiatives, focusing instead on enhancing customer experience and service speed. Despite efforts to adapt its strategy, including localizing production and marketing adjustments, the company is experiencing a challenging market environment, reflected in a 6.5% drop in stock prices.
Source: YAHOO