Starbucks to slash holiday bonuses 40% due to weak earnings: report
Coffee giant Starbucks will cut employee holiday bonuses by 40% after 2020 was its worst year since the pandemic hit, according to reports. The weak bonus, typically paid in December, reflects Starbucks' struggles in the fast-food industry as cash-strapped customers cut back on expensive lattes and Frappuccinos due to rising menu prices. In particular, the […]
Starbucks using pen and paper to pay workers after ransomware attack
Starbucks managers are using pen and paper to update employee schedules and salaries after a ransomware attack affected a third-party software supplier whose system is used to electronically record barista schedules. are being tracked. Panasonic's British subsidiary Blue Yonder Group, which sells supply chain software to Starbucks and other retailers, said Thursday that its service […]
Starbucks rolling out Red Cup Day: Here are the details
Starbucks has revealed the dates for this year's Red Cup Day. The 2024 edition of Red Cup Day will take place on Thursday at participating locations nationwide, according to the coffee house chain. During the annual all-day event, Starbucks announced that it will give away free reusable red cups to customers with purchases “while supplies […]
Starbucks’ new game plan: Will it work?
Barron's Roundtable panelists provide economic outlook and analyze Starbucks and Chipotle stocks. Starbucks' new chief executive announced a series of changes this week aimed at bringing back customers as the company weathers unionization pressures, declining customer traffic and frequent leadership changes. did. Brian Nicol, who took over as CEO in September, told analysts on an […]
Starbucks CEO says company will fix ‘overly complex menu’ to reverse sales slump
Stacey Widlitz, founder of SW Retail Advisors, analyzes why Starbucks' stock price is soaring after announcing a new CEO on “Craman Countdown.'' Starbucks CEO Brian Nicol said the company plans to simplify its menu and revise its pricing strategy to win back customers and reverse declining sales. Nicol, who left Chipotle in August to lead […]
Starbucks shares fall after inflation-battered customers warning
Starbucks stock soared Wednesday as the company's inflation-hit customers cut back on expensive coffee, even as new CEO Brian Nicol begins a turnaround plan. The stock fell in response to a warning that The Seattle-based Java giant released preliminary results for its latest quarter, revealing same-store sales fell 7% in the fourth quarter, the biggest […]
Starbucks shares tumble after warning of drop in sales, profit
Starbucks has suspended its earnings forecast for next year as new CEO Brian Nicol seeks to turn around the coffee giant, which has struggled with declining demand for expensive drinks. The coffee chain also reported preliminary results for the fourth quarter, saying same-store sales, net revenue and profits were down, weighed down by weak demand […]
FACT CHECK: Will Proceeds From Wicked-Themed Starbucks Go To Aid In Palestine?
Post Shared by X Proceeds from the Wicked-themed Starbucks drinks will be donated to Palestine aid, it claims. Every Wicked drink purchased at Starbucks is donated directly to Palestine Relief 🇵🇸 🩷 pic.twitter.com/3xcfnX4moU — ☀️ (@AG7Source) October 19, 2024 Verdict: False There is no reliable evidence to support this claim. The official website for the […]
Stressed-out Starbucks baristas cite widespread understaffing in survey
According to reports, new Starbucks CEO Brian Nicol has expressed stress, complaining that he has been thrown into a “skeletal” crew as they scramble to fill a barrage of coffee orders. He said he was facing the baristas who were in trouble. An internal survey of Starbucks' 10,000 U.S. stores found that only about one-third […]
Starbucks CEO Brian Niccol phases out discounts and promotions
Starbucks' new boss is giving the company the thumbs up by cutting discounts and promotions and forcing coffee lovers to pay full price for their drinks. CEO Brian Nicol, a former Chipotle chief executive who was poached from the Seattle-based coffee house chain earlier this year, said the company was brought in last year to […]