Starbucks reported a global same-store sales decline of 3% and missed revenue expectations by $130 million in its fiscal third-quarter earnings on July 30, 2024. Its share price has tumbled nearly 25% in the past year. That’s all due to operating challenges, an increasingly price conscious consumer and boycotts related to the Israel-Hamas war. Still, the coffee giant accounted for more than 25% of the U.S. coffee and snack shop market in 2023.
Chapters:
0:00 Introduction
1:25 Chapter 1: Challenges
4:00 Chapter 2: Value wars
7:40 Chapter 3: Unions and boycotts
9:30 Chapter 4: Fixing its problems
Produced and Edited by: Ryan Baker
Camera and Audio by: Natalie Rice, Cary Patton, Steven Bechtold
Animation: Christina Locopo, Emily Rabbideau
Senior Managing Producer: Tala Hadavi
Field Producer: Kevin Schmidt
Additional Footage: Getty Images
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Why Starbucks Is Struggling
Author: CNBC
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News post in August 2, 2024, 6:04 pm.
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