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Articles for Narasimhan, search results for stores

Starbucks ousts CEO as market growth slumps
4 months, 1 week ago

Starbucks ousts CEO as market growth slumps

China Daily  

Starbucks, which has struggled this year in its two largest coffee markets — the US and China — on Tuesday ousted its CEO, responding to pressure from an activist investor and its longtime former boss. The Seattle-based company, the world's largest coffee chain, named Brian Niccol, the CEO at Chipotle Mexican Grill since 2018, as its new chairman and CEO, …

China Market Coffee Sales Company Elliott Stores
Starbucks CEO replaced by Brian Niccol, a fixer who revived Chipotle when the chain was in distress
4 months, 1 week ago

Starbucks CEO replaced by Brian Niccol, a fixer who revived Chipotle when the chain was in distress

Associated Press  

In 2018, when Chipotle was reeling from multiple food poisoning outbreaks that had sickened 1,100 people, the company called Taco Bell CEO Brian Niccol to turn things around. The Seattle coffee giant named Niccol as its new chairman and CEO, hoping he can revive fading sales and re-establish Starbucks as a destination where customers are willing to pay premium prices. …

Pay Sales Company Stores Chipotle Schultz Brian Niccol
Former Starbucks CEO Schultz says company needs to refocus on coffee as sales struggle
7 months, 2 weeks ago

Former Starbucks CEO Schultz says company needs to refocus on coffee as sales struggle

Associated Press  

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. In his post, Schultz said …

Coffee Company Howard Stores Starbucks Ceo Schultz
Starbucks lowers guidance, promises new drinks and deals after customer traffic fell in weak Q2
7 months, 3 weeks ago

Starbucks lowers guidance, promises new drinks and deals after customer traffic fell in weak Q2

Associated Press  

Starbucks lowered expectations for its full-year sales and profit Tuesday after a disastrous quarter that saw a slowdown in store visits across the world. In China, Starbucks said the post-COVID recovery has been choppy, and it’s Starbucks is also facing ongoing boycott of its stores for its perceived support of Israel in the war in Gaza. Narasimhan said Starbucks will …

Sales Company Quarter Customers Wall Street Starbucks Narasimhan
Pumpkin spice helps Starbucks posts record sales, but growth may moderate in coming year
1 year, 1 month ago

Pumpkin spice helps Starbucks posts record sales, but growth may moderate in coming year

Associated Press  

Customers fell for Starbucks’ fall menu in the fiscal fourth quarter, with Pumpkin Spice Lattes and apple croissants helping the company achieve record revenue. Starbucks said its global same-store sales — or sales at stores open at least a year — rose 8%, surpassing analyst forecasts for a 6.8% increase. In the upcoming fiscal year, Starbucks said it expects same-store …

Growth China Sales Billion Rose Stores Coming
Starbucks reports record revenue as China booms, but sales still fall short of expectations
1 year, 4 months ago

Starbucks reports record revenue as China booms, but sales still fall short of expectations

Associated Press  

Starbucks reported record revenue in its fiscal third quarter as its China business roared back to life. While its earnings surpassed Wall Street’s forecast, its revenue and same-store sales were lower than expected as North American store traffic slowed. Same-store sales — or sales at stores open at least a year — jumped 46% in China, reversing last year’s declines …

China Sales Company Revenue Starbucks Narasimhan
New Starbucks CEO plans to work in stores monthly
1 year, 9 months ago

New Starbucks CEO plans to work in stores monthly

Associated Press  

Starbucks’ new CEO Laxman Narasimhan says he plans to work a half-day shift once a month in one of the company’s stores in an effort to stay close to its culture and customers. Narasimhan, who took the reins as CEO earlier this week, said in a letter to Starbucks’ employees Thursday that he also expects the company’s leadership team to …

Company Stores Ceo Narasimhan Starbucks Workers Our Stores
Starbucks new CEO Laxman Narasimhan takes his seat
1 year, 9 months ago

Starbucks new CEO Laxman Narasimhan takes his seat

Associated Press  

Starbucks officially has a new CEO. The Seattle coffee giant said Monday that Laxman Narasimhan has assumed the role of CEO and joined the company’s board of directors. Narasimhan succeeds longtime Starbucks leader Howard Schultz, who came out of retirement last spring to serve as interim CEO while the company searched for a new chief executive. Starbucks announced last Septembe …

Company Starbucks Ceo Schultz Narasimhan
Starbucks to revamp stores to speed service, boost morale
2 years, 3 months ago

Starbucks to revamp stores to speed service, boost morale

Associated Press  

Starbucks __ ringing up record sales but struggling with low employee morale __ plans to spend $450 million next year to make its North American stores more efficient and less complex. Our physical stores were built for a different era,” said John Culver, Starbucks’ chief operating officer, at a day-long event for investors in Seattle Tuesday. Culver said customizable cold …

Work Company Stores Culver Schultz Narasimhan Starbucks Ceo