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Starbucks shares slide after coffee chain says sales fell again, suspends outlook (www.cnbc.com)

submitted 2 months ago by [email protected] to c/[email protected]

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For the third consecutive quarter, Starbucks’ same-store sales fell. This quarter’s 7% decline in same-store sales was the company’s steepest drop since the Covid-19 pandemic.

The company blamed its soft sales on weaker demand in North America. In its home market, its same-store sales decreased 6%. Traffic tumbled 10%, despite increased investments in the business, such as more frequent promotions in its mobile app and an expanded range of product offerings.

In China, its second-largest market, same-store sales plummeted 14%. The company attributed the decline to competition in the country, which it said is altering consumer behavior and changing the company’s strategy for the market.

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[–] [email protected] 12 points 2 months ago* (last edited 2 months ago)

Huh, what could it be? They're shitty to their employees, they're union busting and their CEO commutes by private plane, lol. Their former CEO was a shitty, shitty republican. Who do they think buys expensive coffee? Not rural America.

[–] [email protected] 2 points 2 months ago

Maybe bombing Palestine isn't as popular as the aristocratic CEOs think it is after all.