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It's been a bad month for Starbucks. Ex-CEO Howard Schultz agrees [Yahoo! Finance]
Last starbucks corporation earnings: 4/28 04:05 pm
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US:NASDAQ Investor Relations: investor.starbucks.com/ir-home/default.aspx
experiences what current CEO Laxman Laxman Narasimhan calls "a highly challenged environment." Starbucks also reported its first quarterly sales decline since 2020, as well as lower-than-expected earnings and same-store sales growth. Amid the early days of the pandemic, economic experts predicted that it would be a tough road to sustained profitability for coffee chains as many purchases were baked into customers' commutes; this became especially true once the number of people primarily working from home tripled from roughly 9 million to over 27 million. However, Starbucks is facing several additional complicating factors that seem to be reflected in this quarter's numbers: boycotts, new competitors and, perhaps the most influential, a public comment from ex-CEO Howard Schultz indicating he wasn't confident in the chain's current strategy and leadership. As the Washington Post reported in early March, Starbucks became embroiled in boycott calls on TikTok after it sued Workers Un
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- Starbucks' Stock Just Plunged. Is Now the Time to Invest? [Yahoo! Finance][Yahoo! Finance]
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- Starbucks is set to resume union negotiations as it confronts issues at its stores [MSNBC.com][MSNBC.com]
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