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Starbucks is about to report earnings. Here's what to expect

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Investors will be expecting to hear more details about CEO Brian Niccol’s strategy to revive the company’s U.S. business.

Starbucks' preliminary sales fell 3%, marking the third consecutive quarter of shrinking revenue for the coffee giant.Here's what Wall Street analysts surveyed by LSEG are expecting the company to report:. He has previously said that he plans to focus on reviving U.S. sales first and to take the brand"back to Starbucks.

" When the coffee chain released the preliminary report, Niccol said in prepared remarks that the company will simplify its menus, fix its pricing and make sure all drinks are handed to customers.According to the preliminary report, Starbucks' sales fell 3% in its latest quarter, and its same-store sales declined 7%, the company's steepest drop since the Covid-19 pandemic. North American same-store sales shrank 6%, while same-store sales in China tumbled 14%.

 

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Starbucks CEO says company will fix 'overly complex menu' to reverse sales slumpStarbucks CEO Brian Niccol announced that the coffee giant plans to fix its menu and pricing as it seeks to boost traffic and turn around sagging sales.
Source: FoxBusiness - 🏆 458. / 53 Read more »