FILE - A Starbucks mermaid logo sign is displayed on a store, May 29, 2024, in Salem, N.H. Starbucks, struggling with weak demand and disgruntled investors, said Tuesday it's replacing CEO Laxman Narasimhan with Brian Niccol, the chairman and CEO of Chipotle.
Revenue fell again in the April-June period. A new summer drink with boba-like raspberry "pearls" drove strong U.S. sales, but the company had to pull back on marketing after it ran out of ingredients, Narasimhan said during a recent conference call with investors. Meanwhile, Starbucks's share price has fallen 18 per cent so far this year.
Chipotle has continued to see growth despite a larger slowdown in U.S. fast food sales as lower-income customers, in particular, eat more meals at home or look for better value. In the April-June period, Chipotle's revenue increased 18 per cent while its same-store sales -- or sales at stores open at least a year -- rose 11 per cent.
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Majority of drivers caught by photo radar camera on King Edward Avenue are from Quebec, councillor says The long, drawn-out criminal trial of 'Freedom Convoy' organizers Tamara Lich and Chris Barber is winding down as lawyers prepare to deliver their final arguments this week.Three dead after crash in Pictou County: N.S. RCMP'Things have to change': North End Biz sounds alarm over exodus of businesses
A group of customers say they've lost hundreds of thousands of dollars after dealing with the Saskatoon-based Prairie Timber Group Ltd.
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