Starbucks Shares Plummet 12% After Disappointing Quarterly Earnings Report
Starbucks faces a setback with a 12% drop in shares due to disappointing quarterly earnings. CEO Laxman Narasimhan acknowledges the challenges ahead as same-store sales decline across all regions, including a 3% drop in the U.S. market and a 6% decline in China. Despite missing Wall Street expectations, Starbucks remains optimistic about addressing current challenges and future opportunities.
Nestlé USA Recalls Metallic Mugs Sold with Starbucks Gift Sets Due to Burn and Laceration Hazards
Nestlé USA has issued a recall for metallic mugs included in 2023 Holiday Starbucks-branded Gift Sets due to burn and laceration hazards. Consumers are advised to discontinue use and can obtain a full refund from Nestlé USA. The affected mugs were sold at Target, Walmart, and Nexcom from November 2023 through January 2024.
Starbucks quarterly earnings and revenue miss Wall Street expectations
Starbucks reported quarterly earnings and revenue that missed Wall Street’s expectations as both domestic and international sales fell short of estimates. CEO Laxman Narasimhan said on the company’s conference call that the chain faced “headwinds,” including a boycott in the…
Starbucks Celebrates Black History Month with New Cup Collection
Starbucks is celebrating Black History Month with the debut of a new collection of cups designed by artist Damon Brown. The collection is part of the coffee chain’s Artists Collaboration Series, which aims to showcase the unique stories of artists…
Starbucks Enhances Security Measures
Recent Security Review at Starbucks Starbucks, the renowned coffee chain, has recently announced a review of its security measures to ensure the safety of its customers and employees. The move comes in the wake of growing concerns over cybersecurity threats…