3 sources·Business

Starbucks' New CEO Unveils Turnaround Strategy Amid Declining Sales

Brian Niccol outlines plans to transform Starbucks into a welcoming coffee house, improve service speed, and simplify menu offerings as part of a turnaround.

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Updated: Oct 31st, 2024, 9:07 PM ET

Summary

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Starbucks' CEO Brian Niccol revealed a detailed turnaround plan aimed at revitalizing the iconic coffee chain amidst declining sales for three consecutive quarters. His strategy emphasizes speed, customer experience, and a return to its roots as a community coffee house. Key initiatives include reducing the menu complexity, reintroducing self-service condiment bars, eliminating extra charges for non-dairy milk, and ensuring faster service with a target of under four minutes per order. As Niccol addresses operational challenges, including staffing and long wait times, he aims to align the company's offerings with customer expectations.

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