Former Starbucks CEO Schultz says company needs to refocus on coffee as sales struggle
Time:2024-05-07 12:17:35 Source:businessViews(143)
Former Starbucks CEO Howard Schultz says the company’s leaders should spend more time in stores and focus on coffee drinks as they work to turn around flagging sales.
In a LinkedIn post published over the weekend, Schultz said many people had reached out to him after Starbucks reported weaker-than-expected quarterly sales and earnings last week.
The Seattle coffee giant said revenue dropped 2% in the January-March period as store traffic slowed around the world. It was the first time since 2020 that the company saw a drop in quarterly revenue. Starbucks also lowered its sales and earnings guidance for its full fiscal year.
Schultz, who bought Starbucks in 1987, is credited with growing the company into the global behemoth it has become with nearly 39,000 stores worldwide. He has been the chairman emeritus of the company since last fall, when he stepped down from Starbucks’ board.
Previous:I have the largest penis in Britain
Next:Jordan stations 2 firefighting helicopters in Cyprus to help as summer fire season arrives
You may also like
- Hospital operator Steward Health Care files for bankruptcy protection
- China Lists 5 New National
- Nation's Population Drops for First Time in 6 Decades
- Spring Tea Picking Starts in Pu'er City, China's Yunnan
- Merlier wins Giro Stage 3 after Pogacar fires up finale and stays in the lead
- Ningbo Holds Series of Activities to Enrich Night Life of Citizens, Tourists
- China's drone industry reports robust development: data
- Across China: Young People in Hainan Passionate About Traditional Chinese Culture
- Auditors can't locate former St. Louis circuit attorney to complete state audit