New York CNN —Former Starbucks CEO Howard Schultz might have left the coffee giant several months ago, but he’s still offering critiques of the company he ran for about 25 years over three stints.
The answer does not lie in data, but in the stores,” Schultz wrote.
Laxman Narasimhan, Starbucks’ current CEO who Schultz helped pick, reported a “disappointing” quarter in its second-quarter earnings last week.
The company experienced a decline in same-store sales for the first time since 2020 and slashed its full-year sales outlook.
Narasimhan vowed to turn the business around by including an update to its app and mobile and payment offerings, improving service times and rolling out revamped menu items to lure customers back.
Persons:
Howard Schultz, he’s, Schultz, ”, ” Schultz, “, Laxman Narasimhan, Narasimhan
Organizations:
New, New York CNN, Starbucks, National Labor Relations Board
Locations:
New York, United States, China