Starbucks CEO set to announce strategy to fix the coffee chain
"When we get back to our core identity and consistently deliver a great experience, our customers will come back," Starbucks CEO Brian Niccol said.
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- Starbucks' new CEO, Brian Niccol, is set to lay out plans to turn around the struggling coffee chain.
- "It is clear we need to fundamentally change our strategy to win back customers," he said Wednesday.
- The company released preliminary numbers last week.
Starbucks' new CEO, Brian Niccol, says he has a plan to turn around the struggling coffee chain — but investors will need to wait a little longer.
"It is clear we need to fundamentally change our strategy to win back customers," Niccol said in a statement Wednesday. "My experience tells me that when we get back to our core identity and consistently deliver a great experience, our customers will come back." He'll give more details on a call at 5 p.m. ET.
The company released some quarterly numbers last Wednesday, a week early, which showed a 6% decline in comparable sales in the US and a 14% decline in China. At the same time, it suspended its guidance for the coming fiscal year.
This is a developing story.
Read the original article on Business Insider
