Starbucks experienced a significant drop in its stock value, plunging 17% after missing its second-quarter earnings estimates, marking its biggest one-day drop since March 2020. CEO Laxman Narasimhan attributed the disappointing results to three key headwinds but did not specify them in detail. Despite strong Mobile Order & Pay sales, Starbucks saw a mid-teens percent decrease in order completion rates within this channel. Additionally, there was a severe drop-off in loyalty membership, prompting the company to develop an action plan to regain customers, although details of the plan were not disclosed. This performance has led to Starbucks being on track for its biggest loss in 24 years.
Former Starbucks CEO Howard Schultz urged the coffee chain to own its shortcomings and fix operations following its biggest sales miss in years. Bloomberg Intelligence's Michael Halen says the coffee chain needs a new turnaround plan https://t.co/A8CqgnimdM https://t.co/ogZdqrHm0Y
Starbucks ex-CEO Howard Schultz says the chain needs a major fix after its biggest sales miss in years: "There must be contrition." https://t.co/tasXS1nYca
🇺🇸 We need to talk about whatever's happening with Starbucks' drinks https://t.co/AQO3seul6z
Former Starbucks CEO Howard Schultz weighed in on the coffee chain’s dismal latest quarterly report, saying he believes the company will recover if it improves its U.S. stores. https://t.co/g59FbmVQ9F
🇺🇸 Former Starbucks boss Howard Schultz said the coffee giant needs to renew its focus and own its shortcomings https://t.co/5kiYc1WL8o
Howard Schultz says Starbucks needs to revamp its stores after big earnings miss https://t.co/wc9iCFyP4f
Former Starbucks $SBUX CEO Howard Schultz said the coffee giant needs to step up its focus on its 🇺🇸 stores, primarily on the customer experience after the company "significantly missed shareholder expectations" in Q1 "There are no quick fixes. But the path forward should be…
Howard Schultz thinks Starbucks board members should spend (more) time in the stores. Which sounds fine until they all end up joining the Union Also the app is trash and stop flooding the market with non-coffee product... $SBUX https://t.co/SZKk8Wc7fG https://t.co/oOXh81qA4g
🇺🇸 Ex-CEO Howard Schultz says Starbucks needs to overhaul its customer experience https://t.co/wZvF3taIor
$SBUX "U.S. operations are the primary reason for the company’s fall from grace." https://t.co/M51gl9rLyz
The problem with $SBUX is that they turned into a milkshake company, losing focus on coffee, cafes are lousy places to sit and read, the prices are absurd, and management is clueless. Otherwise they’re doing great. Maybe Schultz is coming back… again. https://t.co/1Mw03Suzht
As Starbucks slumps, Howard Schultz says coffee giant should ‘reinvent’ mobile ordering https://t.co/CmVirW74eE
Former Starbucks CEO Howard Schultz urged the coffee chain to own its shortcomings and fix operations following its biggest sales miss in years https://t.co/lqKvDkPsF8
Former CEO Howard Schultz says Starbucks needs to overhaul customer experience https://t.co/qvg5hhq9HL
Former CEO Howard Schultz says Starbucks needs to overhaul its customer experience https://t.co/Hn1t24Gx23
Former Starbucks boss Howard Schultz said the coffee chain needs to renew its focus and own its shortcomings after it delivered disappointing earnings results last week https://t.co/llRvd3E0R7
.@Starbucks' Menu Is Out of Control. We Need to Talk About It. $SBUX https://t.co/A3WoVoR8M8
.@Starbucks Is Running Out of Americans to Drink Its Expensive Coffee - WSJ $SBUX #retail https://t.co/oLu4gJGWhu
It’s mind boggling $SBUX hasn’t acknowledged the slew of competitors in the coffee space… Dutch Bros, Scooters, 7 Brew and not to mention all the indies. The drink space is getting super crowded - heck, we even hopped in with @cosmcs https://t.co/1BJ8WJWQbi
$SBUX Starbucks' current drawdown from peak of 37% marks almost three years since the last high; in July 2021. https://t.co/6fe1BgbrnX
$SBUX Starbucks has now officially been dead money since the beginning of 2020. https://t.co/0lAvE0Ch2d
$SBUX Starbucks has now officially dead money since the beginning of 2020. https://t.co/sHXaSJ7aQz
starbucks stock isn't down 20% because their coffee is "too expensive" it's down because their coffee is literally watered down garbage and their bathrooms are homeless drug shelters
At least in Chicago, $SBUX no longer welcomes customers to sit down and enjoy a cup of coffee (or three or four). All the window stools have been removed. Clear message: Get your coffee and go. No wonder comps are negative. @HowardSchultz https://t.co/07QPJPU7GP
I worked at Starbucks for five years. This is a company that is destroying itself - all stores are pivoting to a drive thru model and eliminating communal spaces, which undercut the company's own stated value of maintaining a third place. https://t.co/B9rHzOr2AX
LONG-PREDICTED CONSUMER PULLBACK FINALLY HITS RESTAURANTS LIKE STARBUCKS, KFC AND MCDONALD'S (CNBC) It's finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday.… https://t.co/bPKNBKhsBm
This morning @andrewrsorkin asked me if I were on the Starbucks board would I press for Howard Schultz to return as CEO. I said absolutely not. An organization that requires a single individual to be successful isn't a corporation; it's a rock band.
$SBUX Very Large $16.9M ITM Put This order is above the ask, a sign of urgency They are probably betting on more Starbucks downside momentum to continue after their poor ER https://t.co/RBAtBRSZaZ
This could be one of the worst live TV CEO interviews I have ever seen. Starbucks stock crashed 5% during this interview. https://t.co/cxB5K4g77z
How long will it take for Howard Schultz to come back? Not surprised by Starbucks' results given they likely have saturated their market for overpriced garbage, but that new CEO looks awful. $SBUX
🇺🇸 Starbucks CEO’s honeymoon is over after sales slump, shares dive https://t.co/xJHQgcbwGo
The collapse of Starbucks is insane: Starbucks' CEO went on LIVE TV attempting to revive the stock. He says, "it was a very tough quarter due to pressures on customers, China, and challenges of the business in the Middle East also impacting us in other geographies." The worst… https://t.co/JZGVwx3Wnc
Inflation Hitting the Caffeine Market? @Starbucks reported a 3% decline in same-store sales & a 7% drop in traffic in their Q2 earnings Total sales dipped almost 2% despite opening 364 net new stores in the quarter @ChainStoreAge
🚨🇺🇸BREAKING: BIGMAC TOO EXPENSIVE FOR MOST AMERICANS Big brands like McDonald's report significant decreases in sales as low-income consumers grapple with rising costs. CEO Chris Kempczinski: "Consumers continue to be even more discriminating with every dollar that they spend… https://t.co/kmBWQPori3
Starbucks nearing its largest drawdown in 15 years $SBUX https://t.co/AijC4R0cA3
☕ Starbucks shares plunge as investors see a decline in the coffee giant's sales. https://t.co/m12XVLl0pU
Starbucks having its worst percent drop since the start of the pandemic after reporting disappointing earnings. The CEO joined CNBC this morning to make the bull case for the stock, but it didn't make it much better: https://t.co/KeAZdT7n8D
Starbucks Annual Revenues $SBUX https://t.co/0JHVxwDzoT
Starbucks North America YoY Average Ticket $SBUX CEO Laxman Narasimhan (CNBC interview): "When I look at the U.S. occasional customer, they've clearly cut back on visits to us... we have not been able to communicate to them the value that we provide." https://t.co/KURx0lb7HR
Starbucks North America YoY Average Ticket $SBUX CEO Laxman Narasimhan: "When I look at the U.S. occasional customer, they've clearly cut back on visits to us... we have not been able to communicate to them the value that we provide." https://t.co/2m5PVdAlPw
Starbucks stock plunges 14% after badly missing its Q2 earnings estimates https://t.co/EiaGpuk6qw by @BrookeDiPalma
Starbucks strategy to drive traffic. $SBUX BOGO. Margins for revenues. Eek. https://t.co/o4HX6D2cUK
In response to this perfectly reasonable question about weak exit rate given supposedly blockbuster product & high ticket despite 'cautious' consumer', you get this nonsense answer from Starbucks CEO. $SBUX deserves shellacking based on this response alone. https://t.co/sYkb1bhSji
⚠️BREAKING: *STARBUCKS TUMBLES 17% IN BIGGEST ONE-DAY DROP SINCE MARCH 2020 $SBUX https://t.co/Bzce48Va29
BREAKING 🚨: Starbucks $SBUX on track for its biggest loss in 24 years 👀 https://t.co/0NlLT19Dz3
"This decline in comp stores numbers...is perilous to the actual existential existence of Starbucks." $SBUX saw a severe drop-off in its loyalty membership-- CEO Laxman Narasimhan tells @jimcramer that the company has an action plan in place to bring back customers. https://t.co/eUyNOi1aNh
$SBUX stunned Wall Street with missing its second-quarter earnings estimates. CEO Laxman Narasimhan tells @jimcramer that the quarterly results were hit by three key headwinds - and explains why the company chose not to pre-release. https://t.co/XcHCh4Qquc
And I thought $SBUX was a coffee can stock.... The more I invest, the less I know. https://t.co/Px4lISp5eI https://t.co/H3ps9n3Sip
$SBUX Starbucks CEO on Q2 miss: Didn't communicate the value we provide in a more aggressive manner (9 min of interview that ... doesn't inspire confidence) https://t.co/EOetRDzgaY
$SBUX (-16.9%) Starbucks: "...despite strong Mobile Order & Pay sales, we saw a mid-teens percent order in completion rate within the order channel this past quarter." https://t.co/wrXcB6iG1Y