Starbucks Corp. is experiencing ongoing challenges, with comparable store sales down 4% in the latest quarter, reflecting a flat revenue of $9.4 billion. Under new CEO Brian Niccol, the company launched the insufficiently detailed 'Back to Starbucks' plan aimed at empowering baristas and reviving the brand's local coffee shop appeal. However, competition is fierce, particularly in China where local player Luckin Coffee holds a significant advantage. Over the last five years, Starbucks shares have risen only 18%, signaling deeper issues with brand perception and customer alienation.
Starbucks Corp. has faced a significant decline in its comparable store sales, down 4% in the latest quarter, despite a struggling revenue of $9.4 billion.
New CEO Brian Niccol's vague 'Back to Starbucks' plan seeks to empower baristas and revive the brand's appeal, though substantial challenges remain.
Starbucks faces fierce competition in China from Luckin Coffee, which holds a larger market share, further complicating its recovery efforts.
Over the past five years, Starbucks shares have only seen an 18% increase, starkly underperforming against the S&P 500's 88% growth.
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