Starbucks Corp. on Wednesday said its latest quarterly results “do not reflect the strength of our brand,” and said it needed to make fundamental changes to bring back customers.
More than ever, the market needs a reason to believe in this company.
Starbucks' preliminary sales fell 3%, marking the third consecutive quarter of shrinking revenue for the coffee giant. Investors will be expecting to hear more details about CEO Brian Niccol's strategy to revive the company's U.S. business.
Starbucks Corporation SBUX will release earnings results for its fourth quarter, after the closing bell on Wednesday, Oct. 30.
Starbucks will pull its Oleato olive oil-fused drinks from U.S. menus in early November. The company made the decision to remove the drinks from domestic menus before new CEO Brian Niccol arrived, but it aligns with his strategy to simplify the chain's complex menu, according to a company spokesperson.
The company posted preliminary results last week. All eyes are now on new CEO Brian Niccol's plan to improve the business.
Starbucks (SBUX) stock price remained in a consolidation phase as traders waited for the first quarterly earnings under Brian Niccol. After the initial surge when he was appointed in August, the stock has embraced a wait-and-see approach as investors focus on his strategy release.
Internal note reportedly warns ‘accountability process' will start next January for company's hybrid work requirements
Starbucks has reportedly warned corporate employees that they will lose their jobs if they don't report to the office three days per week — just weeks after sparking backlash for allowing its new CEO to work from his Southern California home.
24/7 Wall St. Insights Starbucks Corp. (NASDAQ: SBUX) has threatened to fire corporate workers who do not return to the office.
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The coffee chain drops some bad news early, while General Motors takes a victory lap.