Former Starbucks CEO Howard Schultz said the chain needs to fix its U.S. store experience to win back customers.
Schultz, who no longer has a formal role within Starbucks, sees an obvious reason for the downturn. He wrote that the company needs to improve its mobile order and pay experience and overhaul how it creates new drinks to focus on premium items that set it apart. Analysts, caught off guard by the chain's underperformance, have been looking for an explanation for why Starbucks' U.S. traffic fell 7% in the quarter. The chain could still be dealing with the repercussions of social media backlash related to its position on conflict in the Middle East, Bank of America Securities analyst Sara Senatore wrote in a research note on Monday.
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