Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Former Starbucks CEO Schultz says company needs to refocus on coffee as sales struggle !

Former Starbucks CEO Schultz says company needs to refocus on coffee as sales struggle

Time:2024-05-07 12:01:43 source:Global Gaze news portal

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.

Related information
  • 2 killed when a small plane headed to South Carolina crashes in Virginia, police say
  • Ariana Madix and Katie Maloney FINALLY set opening date for money
  • Moment out
  • German far
  • Russia plans nuclear weapon drills after angry exchange with Western officials
  • Supreme Court torn over Oregon's homeless: Kavanaugh says they shouldn't be 'micromanaging' cities
  • Complex stories of migration are among the finalists for the Women's Prize for Fiction
  • Emily Blunt looks sensational in a white vegetable
Recommended content
  • Double European weightlifting champion Pielieshenko killed in Ukraine war
  • Homeowners share their incredible DIY renovations
  • Shocking moment Las Vegas daycare teacher grabs three
  • Shocking moment scantly
  • Maternal deaths have fallen to pre
  • Kim Kardashian shares selfie with Taylor Swift's ex