Reported about 1 month ago
Starbucks Corporation's shares dropped as it reported a 7% decline in same-store sales for the fourth quarter, marking the third straight quarter of sales drops. The company has decided to withdraw its guidance for 2025, focusing on a turnaround strategy under new CEO Brian Niccol, who has indicated a need for a fundamental change in strategy. The drastic sales drop, particularly in the US and China, has raised concerns about the company's future trajectory.
Source: YAHOO