While not surprising that Laxman Narasimhan is out as Starbucks's CEO given activist investors and the company's steep sales reversal over the past 9 months, his replacement will send ripples throughout the industry, William Blair analyst Sharon Zackfia wrote.
Boycotts and challenges like cautious consumer spending in China led to significant drops in comparable store sales, prompting Starbucks to explore innovative strategies to boost sales.
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