Tag: $Starbucks

Starbucks has been on the decline, with shrinking sales as it moved from a traditional sit-down coffee shop into one where people place orders on their phones and grab a drink from the counter. Its new CEO has a plan to fix it all. And it starts with comfortable chairs.

Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol.

Activist investor Starboard Value has a stake in Starbucks the Wall Street Journal reported on Friday, adding that it wants the coffee giant to take steps to improve its stock price.

Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. And that masked how steep the decline was for Starbucks last quarter: Total transactions at North American stores open at least a year fell 6% in the quarter. That was offset, in part, by higher prices.

Starbucks on Tuesday reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales.

When it rains, it pours. And it rained pretty heavily on Starbucks in the last leg of the year, prompting the company to miss first-quarter earnings expectations and lower its revenue guidance for the rest of the fiscal year.

Starbucks Corp.’s stock soared 7% in premarket trade Thursday, after the coffee store chain posted better-than-expected earnings for its fiscal fourth quarter.

Starbucks raised its quarterly dividend to 57 cents from 53 cents, an increase of about 7.5%.

Howard Schultz is stepping down from Starbucks ‘ board of directors, the company said Wednesday.

Shares of Starbucks Corp. fell after hours Tuesday after the coffee chain reported third-quarter same-store sales that missed expectations, despite a big rebound in China.

Workers at dozens of U.S. Starbucks locations held strikes on Sunday to express their outrage over accusations by the baristas’ union that managers at several U.S. cafes removed rainbow flags and decorations supporting LGBTQ+ Pride month.

Some organized Starbucks stores will strike across the U.S. starting Friday in Seattle after the coffee giant and the union representing baristas publicly clashed over claims that the company was not allowing Pride month decor in cafes.