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. Schultz, who bought Starbucks in 1987, is credited with growing the company into the global behemoth it has become with nearly 39,000 stores worldwide. He has been the chairman emeritus of the company since last fall, when he stepped down from Starbucks’ board. |
Braless LeighKing Charles and Queen Camilla step up their involvement in horse racingChicho scores 9th goal of season, Real Salt Lake beats Sporting KC 1Ohtani gifts Roberts a toy Porsche before breaking club mark for most HRs by a JapaneseUCLA men's volleyball beats LBSU 3Bernardeschi scores 2 goals to help Toronto beat Dallas 3A week in review of Donald Trump's hush money trialAlabama state senator chides male colleagues for letting parental leave bill dieKentucky Derby fashion: see the splendor in photosA week in review of Donald Trump's hush money trial