Starbucks revises its full year fiscal 2024 guidance, expecting low single-digit global revenue growth and low single-digit decline to flat in global and US comps. Former CEO Howard Schultz urges the company to own its shortcomings and improve operations following disappointing earnings results and a significant sales miss.
Starbucks (also known as a Howard Schultz company) https://t.co/GeVNOCpJdt
"Starbucks announced earnings last week, and unfortunately, significantly missed shareholder expectations. Naturally, the market reacted negatively. I no longer serve on the Starbucks board of directors, and I have had no formal role within the company since April 2023..." -…
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
“The company this week reported a fall in sales for the first time in nearly three years…Multiple factors are to blame - including high prices, customers cutting spending and bad weather - but slow service was highighted by the Starbucks CEO. On slow service, the company said… https://t.co/E5BMcRaRmv
Is Starbucks even in control of its own destiny? Significant inflation on their largest expense (wages) & rising input costs (coffee, dairy, etc -> needed to raise prices to keep margins flat. Consumers don’t want to pay $7 for a coffee. What are they supposed to do?
$SBUX CFO: "Based on our Q2 performance and ongoing headwinds, we are revising our full year fiscal 2024 guidance. We now expect global revenue growth of low single digits, global and US comps of low single-digit decline to flat..."
$SBUX CEO: "Based on our Q2 performance and ongoing headwinds, we are revising our full year fiscal 2024 guidance. We now expect global revenue growth of low single digits, global and US comps of low single-digit decline to flat..."