Starbucks reported quarterly earnings and revenue that fell short of analyst expectations on Wednesday, citing disappointing sales performance in its key markets of the U.S. and China. The company's fiscal fourth-quarter results, which were initially previewed on October 22, included a suspension of its fiscal 2025 outlook, signaling uncertainty about future growth.
This report marks the first under new CEO Brian Niccol, who assumed leadership on September 9. Niccol was brought in to address the company’s underperformance and revive its operations, which have struggled in recent months.
In a statement, Niccol acknowledged the need for fundamental strategic changes to win back customers. “It is clear we need to fundamentally change our strategy to win back customers,” he said. “We have a clear plan and are moving quickly to return Starbucks to growth.”
Niccol's plan for revitalizing the business centers on a series of operational changes in the U.S. market. ...
Sign up to read the entire article. It's Free and Simple to sign up!
We are offering a
FREE 30 day trial which includes full access to the following services here at investorAi.
You only need an email address to sign up! You will NOT be billed at the end of your trial unless you wish to begin a subscription.