Starbucks says mornings are so busy that one in 8 mobile customers are abandoning orders [Business Insider]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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Source: Business Insider
The company said a mid-teens percent of mobile customers abandon their carts due to long wait times. Starbucks is having a rough year so far. The Seattle-based coffee giant posted worse-than-expected sales figures for its second fiscal quarter as visits from "occasional customers" declined, the company said Tuesday. But while visits from loyal customers remain strong, CEO Laxman Narasimhan highlighted a curiously Starbucksian problem that any occasional or loyal customer has likely encountered: demand is too high during the peak morning rush. Narasimhan said on the company's earnings call that nearly two-thirds of Starbucks' morning business in the US is from rewards members using the mobile app , which has yielded a remarkable insight. "We saw a mid-teens percent order incompletion rate within the order channel this past quarter," he said. "In other words, customers using Mobile Order-Pay put items into their carts and sometimes chose not to complete the order, citing long
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SBUX
Earnings
- 4/30/24 - Miss
SBUX
Sec Filings
- 5/21/24 - Form 144
- 5/17/24 - Form 4
- 4/30/24 - Form 10-Q
- SBUX's page on the SEC website