Starbucks' fix needs to begin at home, former CEO Howard Schultz says
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- เผยแพร่เมื่อ 19 พ.ค. 2024
- Starbucks (SBUX) saw its worst post-earnings performance since 2000 last week after its second quarter earnings fell short of Wall Street's estimates. Following the disappointing results, former CEO Howard Schultz wrote on LinkedIn, "The company's fix needs to begin at home," pointing to US operations as "the primary reason for the company's fall from grace." Yahoo Finance Senior Reporter Brooke DiPalma breaks down how both Schultz and the Street are losing confidence in the beverage giant.
All eyes are on Starbucks' pricing strategy as sales struggle. CFO Rachel Ruggeri told Yahoo Finance that the company has no plans to lower its prices despite analysts' skepticism that Starbucks will be able to successfully course-correct. The company pointed to initiatives like menu innovation and in-app offerings to get consumers back in stores; however, DiPalma warns, "many are skeptical that this is just not enough."
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Why didn't he access these qualities before selecting a CEO?
A location near me remodeled, kept same stand alone building, but removed ALL seating. Never went back and heard their sales went off a cliff. For a coffee company, they lost their way with (hot) coffee beverages. How much of their beverage menu now is anything but coffee? 😔
Burnt coffee does not make a customer happy... I brew high quality coffee for $.50/pot - I'll save the difference for my retirement.
he is right. The store experience sucks. Baristas don't want to work there. They work slow. They don't care. And it shows.
The tipping situation is ridiculous. Please Starbucks turn off the tipping suggestion at the pay point.
They need to offer low calorie, low sugar drink alternatives. I don’t want diabetes. 1 typical drink is 50 grams of sugar even with non dairy alternatives.
Facts, it’s like a candy bar in a cup.
Candy bars in a cup would sell like wildfire if they were priced right
@@VideoSnipsChannel that’s hilarious, concerning and probably true 🥹
Because Americans care about a healthy diet
@@Viv8ldi 😂🤣
Too greedy !
Bean counters ruin everything
Stupid greedy price hikes.
Price hikes in food happen because the price to make food has increased.
Food is more expensive to make because fertilizer is more expensive, livestock feed is more expensive, and machinery operation is more expensive.
Fertilizer is more expensive because natural gas is more expensive.
Livestock feed is more expensive because coal is more expensive.
Machinery operation is more expensive because oil is more expensive.
If you want to bring down the cost of food, you have to bring down the cost of fossil fuels.
To bring down the cost of fossil fuels, you have to stop regulating/taxing it to such a high degree.
Energy = wealth
I have a daily SBUX cold brew habit, but I make a Trenta last 3-4 days - price was $3.75 in 2020, now $5.45 for black coffee.
Who in the hell wants to pay $6-7 for a coffee and that’s not even made right.
Plus tip.
$7-10 for a shitty coffee
One bone to pick I have with them is (at least in the stores in Canada that I'm going to) are only having Pike Place ready to drink, whereas I'd prefer a dark roast. If I ask for the dark roast, they'll offer me an Americano (pour over, takes 5 mins), which is fine for some people, but for me, I just want the regular drip brew style, hot, and ready to go. So I'll settle for the Pike, but then I find myself not wanting to go back. Shouldn't a coffee company have more than one choice of coffee?
Sbux needs to make semiconductors
😂😂 Ahaha join the bandwagon
2022, 23.7 billion in profit. 2023, in Canada, implemented tipping. Not only is the coffee overpriced, it's not always good. Not to mention, their food is horrible. Was easy to quit. Used to go twice a day, but I'm not paying your employees salaries to pick up a coffee in a drive-thru.
Totally agree. The tipping situation is ridiculous. Why am I paying the wage of a fast food worker?
Overpriced burnt coffee
With Starbucks' premium pricing, consumers naturally expect a higher level of quality and service from the brand.
Plus tipping is over the top.
Peets Coffee is a much better chain.
I won’t buy a Starbucks beverage but I might buy some of their stock with my personal spending $ if it keeps with the nosedive.
Hello, boycott 🤟😌 thank you! How's MacDonald's doing btw? (honestly I don't have update of McDo atm)
MickeyDs coffee is better.
If yoo want a cup of coffie go to McDonalds
An RN friend of mine has a Master’s Degree 📜. Coffee ☕️ of choice is Dunkin Donuts 🍩!
@@bobdenton1 I don't understand you post
@@user-vb8yf8be3l My point: Smart people don’t go to Starbucks.
@@bobdenton1 I agree
@@bobdenton1a degree doesn’t make a person smart. The new college grads at work can’t even use a copier. Nor can add with out a calculator.
Another Iger in the making! No one can help a sinking ship. Even past CEOs with visions of grandeur!
Starbucks employees at snoqualmie discriminate against me for sleeping in my car
I never buy Starbucks.
I buy it when the kids on the bus buy me gift cards. That's it. Otherwise no thanks
Tip or no tip😅?
I prefer dunkin to Starbucks a, cheaper b, the employees don’t act like they hate working their - I don’t need people sucking my ass when taking my order be at least neutral/poker face c, dunkin has deals on the app and I don’t need to preload money
No tips.
Boycott is working!
What boycott?
@@bngr_bngr the founder and ex-ceo of Starbucks is a prominent Zionist who has supported aparthide in the Palestinian Territories, Starbucks has also been treating its unions horribly and has sued them multiple times this year
@@bngr_bngr boycotting Starbucks for their ex-CEOs and current ceo union busting and Zionist support
@@bngr_bngr I have tried typing it but I am not allowed to state it here but it is because I’d them supporting the Z-I-0-N-I-S-T jennyside
@@Abdul-nt9uk Starbucks didn’t support Israel. It started as a lawsuit against the Union for using the Starbucks logo. The
Union made it sound like they supported Gaza to make Starbucks look bad.
All the money donated to the IDF…boycotts working?
What boycott?
Schultz is just unhappy as Starbucks agreed to sit down with the union this fall and hash things out = employment labor costs increase, less profit, flatter stock. That is it and that is all. He has viewed his employees as automatons for quite a while.