Former Starbucks CEO Howard Schultz says the company’s leaders should spend more time in stores and focus on coffee drinks as they work to turn around flagging sales.In a LinkedIn post published over the weekend, Schultz said many people had reached out to him after Starbucks reported weaker-than-expected quarterly sales and earnings last week.The Seattle coffee giant said revenue dropped 2% in the January-March period as store traffic slowed around the world.
But Schultz said coffee is what differentiates Starbucks and reinforce the company’s premium positioning."The go-to-market strategy needs to be overhauled and elevated with coffee-forward innovation," he said.Narasimhan did announce plans for coffee pop-up stores in the U.S. and elsewhere last month. Starbucks plans to use the stores to experiment with limited-edition coffee drinks, teach younger customers about coffee and learn about customers' preferences.
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Starbucks founder Howard Schultz says company needs to refocus on coffee as sales struggleHoward Schultz says the company’s leaders should spend more time in stores and focus on coffee drinks as they work to turn around flagging sales.
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Starbucks founder Schultz says company needs to refocus on coffee as sales struggleFormer Starbucks CEO and founder Howard Schultz says the company’s leaders should spend more time in stores and focus on coffee drinks as they work to turn around flagging sales.
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