Starbucks is assessing bids from five parties for its China business as it seeks a partner to navigate the country's competitive coffee landscape.
Starbucks (SBUX) closed at $81.15 in the latest trading session, marking a +1.4% move from the prior day.
The latest trading day saw Starbucks (SBUX) settling at $80.04, representing a -1.54% change from its previous close.
It's been a tough year for Starbucks NASDAQ: SBUX. The king of coffee retail chains has seen its stock slide more than 25% from its year-to-date (YTD) high on Feb. 23, and when it reported Q3 earnings on July 29, it missed analysts' estimates by nearly 28%.
The coffee chain's “Project Bloom” was months in the making, and days in execution.
SBUX bets on store uplifts and new prototypes to boost customer connection and unit efficiency.
On the heels of Starbucks's recent announcement that it will be cutting 900 corporate roles and closing 1% of its North American stores by the end of 2025 (after accounting for both new openings and closures), Starbucks Workers United said Tuesday that 59 of those locations marked for closure are unionized.
Starbucks (SBUX) reached $84.6 at the closing of the latest trading day, reflecting a -1.21% change compared to its last close.
Starbucks is closing about 1% of its company-operated North America stores as part of CEO Brian Niccol's dramatic $1 billion restructuring plan, Niccol announced last week. The cutback, he wrote, is "necessary to build a better, stronger and more resilient Starbucks.
Starbucks CEO Brian Niccol is trying to give the coffee chain a much-needed jolt. He's been here before.
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The coffee chain is looking to reverse a sales slump with new training—and lots of meaningful eye contact.