Starbucks founder Howard Schultz says company needs to 'overhaul' strategy as troubles mount [Yahoo! Finance]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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Source: Yahoo! Finance
Schultz, who no longer has a formal role in the company, was quick to weigh in on the coffee giant's latest miss . In a LinkedIn post on Sunday , the founder and former CEO said he has been asked by "people inside and outside the company" for his thoughts on the earnings miss. He wrote that issues need to be fixed in the US first, with a need to "overhaul" the current strategy and focus on "coffee-forward" innovations and core products. Schultz remains the chain's largest individual shareholder with nearly 21.8 million shares, worth roughly $1.6 billion. Some investors are left questioning whether this means a potential fourth return as CEO, with current head honcho Laxman Narasimhan only recently reaching one year in the role. Narasimhan plans to bolster declining sales trends with various tactics such as value offerings, new items like boba-tea like pearls, energy drinks, and speedier service. When he left for the third time last year, Schultz said publicly he had no plans
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SBUX
Earnings
- 4/30/24 - Miss
SBUX
Sec Filings
- 5/17/24 - Form 4
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- SBUX's page on the SEC website