Same store sales falling 6% in the recent quarter, us transactions down 10% marking the steepest decline since Covid.
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00:00Veinti sized problems at Starbucks continue. Same store sales falling 6% in the recent quarter.
00:07U.S. transactions down 10%, marking the steepest decline since COVID.
00:13The numbers in China, even worse, where sales fell 14%.
00:18New CEO Brian Nickell, who recently came over from Chipotle, saying,
00:22we need to fundamentally change our strategy so we can get back to growth.
00:28Adding, customers expect our stores to look and feel like the community coffeehouse
00:34they remember. Shares of Starbucks fell on the news.