Starbucks (SBUX) reported declining global sales in its fiscal fourth quarter earnings results published last week with new CEO Brian Niccol leading the earnings calls since his migration from Chipotle (CMG) chief executive. But Niccol is dead set on leading the coffee chain into its next chapter. Niccol sits down with Yahoo Finance executive editor Brian Sozzi and senior reporter Brooke DiPalma to have a conversation about his vision for a Starbucks turnaround, which includes changeups to the chain’s food offerings and improving wait times for orders. Niccol says Starbucks has to “fix the parameters” around getting the operating experience for employees to match the customer experience. While same-store sales fell 8% in China, Niccol highlights the changes in the last couple of years: “The competitive environment has changed pretty dramatically. The macro environment is very different than it probably has been historically.” However, Niccol is still finding good news in the “tremendous growth both in the coffee category and then the positioning in the space that Starbucks plays in for the long term.”
#youtube #stockmarket #news
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
source
