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Top related persons:
Laxman Narasimhan - 3 ” Narasimhan - 3 ” - 2 Narasimhan - 2 “ Headwinds - 1 “ - 1 boycotters - 1 Belinda Wong - 1
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Starbucks - 3 New - 1 New York CNN - 1 East - 1 Alshaya - 1 Workers United - 1 Israel - 1 Workers - 1

Search resuls for: "” Narasimhan"


6 mentions found


☆ Starbucks just had a ‘disappointing’ quarter. Here’s how it plans to turn things around
  + stars: | 2024-05-01 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —Starbucks is brewing a turnaround plan that involves speedier service and expanding the number of promotions after its most recent quarter was “disappointing,” in the words of its own chief executive. “Let me be clear from the beginning, our performance this quarter was disappointing,” said CEO Laxman Narasimhan on the earnings call. Same-store sales in the United States fell 3%, a sharp reversal from the same quarter a year ago, when they grew 12%. In China, the chain’s second-largest market, sales fell a staggering 11%, with the company blaming competition from “value players” in the country. Starbucks is now forecasting revenue to grow in the low single digits, a steep decline from its previous forecast of 7% to 10%.
Persons: ”, Laxman Narasimhan, ” Narasimhan, “ Headwinds, Narasimhan Organizations: New, New York CNN, Starbucks, East, Alshaya Locations: New York, United States, China, Gaza
☆ Starbucks Reports Record Q1 Revenue but Lowers Outlook as Consumer Spending Falls in Some Markets
  + stars: | 2024-01-30 | by ( Associated Press | Jan. | At P.M. | ) www.usnews.com   time to read: +4 min
Starbucks reported record revenue in its fiscal first quarter but lowered its sales outlook for the rest of the year as spending weakens in China and other markets. Starbucks said its revenue rose 8% to a record $9.43 billion for the October-December period. Global same-store sales rose 5%, which was also lower than the 7% increase analysts forecast. Starbucks also saw record U.S. spending per order as visitors bought more food and spent more to customize their drinks. Starbucks and Workers United plan to try to resolve the lawsuit in mediation sessions next month, according to court filings.
Persons: Laxman Narasimhan, Narasimhan, “, ” Narasimhan, boycotters, Belinda Wong, We’re, Wong Organizations: Starbucks, Workers United, Israel, Workers Locations: China, Seattle, U.S, Narasimhan, Gaza
☆ Starbucks bets on China with new $220 million 'innovation park' in Kunshan
  + stars: | 2023-09-19 | by ( Michelle Toh | ) edition.cnn.com   time to read: +3 min
The site is home to a large coffee roasting facility and an area that lets visitors see how drinks are made. Starbucks' new campus in Kunshan, eastern China. China has long been one of the most important growth drivers for Starbucks, serving as its second-biggest market worldwide and top overseas market. “As one of the largest consumer markets in the world, China presents tremendous opportunities for Starbucks,” Narasimhan said in the statement. “As Starbucks’ largest and fastest-growing international market, we will continue to deepen our investment and reinforce our unwavering long-term commitment to the China market.”
Persons: Hong Kong CNN —, That’s, Laxman Narasimhan, ” Narasimhan, ” Organizations: Hong Kong CNN, CNN, Starbucks Locations: China, Hong Kong, United States, Kunshan, Shanghai, Covid
☆ Starbucks is changing its ice cubes
  + stars: | 2023-05-18 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Starbucks is changing its ice cubes. Customers who order cold beverages will now sip on “nugget ice” in their drinks, ice pieces which are smaller than the chain’s current cubes. The nuggets don’t melt any faster, the company said, and the switch to nuggets doesn’t mean customers will get any less ice since baristas are using the same ice scoop. New Starbucks CEO Laxman Narasimhan sees room for improvement in the business, which includes installing new equipment. Starbucks said in a statement that the new ice machines use less water and will be rolling out to all its stores over the next several years.
☆ Starbucks’ new CEO lays out improvement plan
  + stars: | 2023-05-02 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +5 min
New York CNN —During his first earnings call as the new Starbucks CEO, Laxman Narasimhan praised the company for its financial performance. In the quarter ending on April 2, sales at company-operated Starbucks stores open at least 13 months jumped 11% globally, including a 12% increase in North America. Before officially becoming CEO in March, Narasimhan spent about six months shadowing former interim CEO Howard Schultz in an incoming CEO capacity. Since December 2021, about 300 Starbucks stores have voted to unionize and been certified by the NLRB. It’s a relatively small number compared to the roughly 9,300 company-operated Starbucks stores in the United States.
☆ New Starbucks CEO plans to pull barista shifts in stores every month
  + stars: | 2023-03-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +4 min
New York CNN —Starbucks’ new CEO Laxman Narasimhan teased his plan for the company in a letter to employees. It includes working in Starbucks stores as a barista once a month. “Critically, we will reinvigorate our culture around what it means to be a partner at Starbucks,” Narasimhan continued. Starbucks employees react and cheer at the sound of honking motorists supporting them in a nationwide strike at the Starbucks at 1601 W. Irving Park Road on Dec. 16, 2022, in Chicago. Schultz, who remains on Starbuck’s board, is scheduled to testify about Starbucks’ labor practices during a Senate hearing next week.
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