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Former Starbucks CEO says company needs to refocus on coffee as sales struggle
Posted on 5/6/24 at 4:33 pm
Posted on 5/6/24 at 4:33 pm
Does the OT still buy coffee at Starbucks?
LINK
quote:
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.
quote:
“I have emphasized that the company’s fix needs to begin at home: U.S. operations are the primary reason for the company’s fall from grace,” he said. “The stores require a maniacal focus on the customer experience, through the eyes of a merchant. The answer does not lie in data, but in the stores.”
Laxman Narasimhan, who became Starbucks’ CEO last spring, has been working a half-day shift in Starbucks stores once a month.
At some points in his post, Schultz seemed to be questioning Narasimhan’s turnaround plans. In a conference call with investors last week, Narasimhan mentioned several new products he thinks will drive customers to stores later this year, including boba drinks, sugar-free options and the brand’s first energy beverage.
But Schultz said coffee is what differentiates Starbucks and reinforce the company’s premium positioning.
“The go-to-market strategy needs to be overhauled and elevated with coffee-forward innovation,” he said.
LINK
Posted on 5/6/24 at 4:34 pm to RLDSC FAN
Maybe they should go back to kicking out homeless people who practically live there? Guess that’ll be “racist”
Posted on 5/6/24 at 4:35 pm to RLDSC FAN
Cause it’s not a coffee place anymore. They sell more sugar than coffee. Their coffee sucks too.
Posted on 5/6/24 at 4:35 pm to RLDSC FAN
They're struggling? Every time I drive by my local one it has a line of people waiting for their $9 milkshake.
Side note: stopped in there when our power went out on Sunday morning to get some fresh coffee. Not a big fan of Pike's Place but it did the job.
Side note: stopped in there when our power went out on Sunday morning to get some fresh coffee. Not a big fan of Pike's Place but it did the job.
This post was edited on 5/6/24 at 4:44 pm
Posted on 5/6/24 at 4:36 pm to RLDSC FAN
You can't become an activist company because you think more highly of yourself and then when sales drop you want to reconnect with the people. That ship has sailed. You started it and now live with the consequences.
Posted on 5/6/24 at 4:36 pm to RLDSC FAN
"We should focus more on widgets," says CEO of widget maker.
Crazy stuff.
Crazy stuff.
Posted on 5/6/24 at 4:37 pm to RLDSC FAN
Suffering from menu bloat like most big restaurant companies and not focusing on core products. The C suite guys working in stores is a good start to working out some of those operational issues though.
Posted on 5/6/24 at 4:37 pm to RLDSC FAN
I basically only go if we have gift cards or im on the road and it’s the quickest option. The cost is out of control
Posted on 5/6/24 at 4:38 pm to RLDSC FAN
Their coffee sucks so hard. Wayyy over roasted. There are two near me that have moved to much smaller in-store space and doubled the drive thru lane. Probably changing their cost structure a bit.
Posted on 5/6/24 at 4:40 pm to RLDSC FAN
Starbucks in the 90’s and early 2000’s had good consistent coffee. The espresso shots were very consistent. It all tastes so bad now they have to incorporate flavors and sweeteners into everything to mask the coffee. Their basic iced coffee and iced latte drinks are terrible now.
Posted on 5/6/24 at 4:41 pm to bad93ex
quote:
They're struggling? Every time I drive by my local one it has a line of people waiting for their $9 milkshake.
Ah yes, the anecdote.
Posted on 5/6/24 at 4:43 pm to RLDSC FAN
quote:I really don't go to Starbucks anymore, but when I have in the last few years, the workers all seem disgruntled and unhappy… Which always had me second-guessing being in there
Does the OT still buy coffee at Starbucks?
Posted on 5/6/24 at 4:44 pm to RLDSC FAN
Not a fan but the Americano is decent, if any. They do have some of the best lemon pound cake you can ever put in your mouth though. A++ slice.
Posted on 5/6/24 at 4:45 pm to RLDSC FAN
Their business model is trash. GMs are expected to do the job of 3 managers. It's wild
Posted on 5/6/24 at 4:46 pm to Chicken
They're probably disgruntled because they aren't making "a livable wage" while fricking up my drink order.
Posted on 5/6/24 at 4:46 pm to RLDSC FAN
When I go ill get just plain black coffee. Nothing spectacular though.
Posted on 5/6/24 at 4:48 pm to BigPerm30
Or maybe..your chain coffee sucks and local options have now out flanked you.
Posted on 5/6/24 at 4:52 pm to RLDSC FAN
Stocking Mill Coffee
@smcroasters
Remain ungovernable…but first, coffee. America’s real coffee company.
Stocking Mill Coffee Web LINK
Best coffee I ever had and been buying from them for 3 years. I love his twitter feed he fricks with gun grabbers and commies and leftists all the time. Not fake. Does fundraisers for veterans and veterans homes. Buys jumping equipment for disabled vets so they can go jump.
Also does his own roasting. Orders take longer because he makes every order fresh to order.
frick Starbucks
@smcroasters
Remain ungovernable…but first, coffee. America’s real coffee company.
Stocking Mill Coffee Web LINK
Best coffee I ever had and been buying from them for 3 years. I love his twitter feed he fricks with gun grabbers and commies and leftists all the time. Not fake. Does fundraisers for veterans and veterans homes. Buys jumping equipment for disabled vets so they can go jump.
Also does his own roasting. Orders take longer because he makes every order fresh to order.
frick Starbucks
Posted on 5/6/24 at 4:54 pm to GetBackToWork
quote:
tastes so bad now they have to incorporate flavors and sweeteners into everything to mask the coffee. Their basic iced coffee and iced latte drinks are terrible now.
This is accurate. Regional airport I fly through only has Starbucks. Every time I order the cold brew they want to know "what flavor" I want in it. They seem shocked when I say "just coffee and ice". Half the time they will dump vanilla goo in there and I have to get them to make another.
Posted on 5/6/24 at 4:55 pm to BigPerm30
quote:
Cause it’s not a coffee place anymore. They sell more sugar than coffee. Their coffee sucks too.
I’d never had Starbuck’s coffee before. I use to get their fraps all the time, but I knew this was nothing but a milkshake.
A few weeks ago, I decided to stop and get a simple latte, a very basic coffee drink. That was pure garbage. Tasted like old drip coffee with cream in it.
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