Starbucks is expected to unveil a reinvention plan on Tuesday as the coffee giant grapples with changing consumer behavior.
Starbucks is expected to unveil a reinvention plan Tuesday as the coffee giant grapples with changing consumer behavior in the wake of the pandemic.
The strategy is the brainchild of outgoing interim CEO Howard Schultz, who returned to the top job in the spring after Kevin Johnson's retirement. Schultz will cede the reinsStarbucks said Tuesday's investor day in Seattle will feature presentations and a question-and-answer session with leadership, but it is unclear if Narasimhan will speak with investors for the first time.
In August, Schultz told investors the plan will tackle "increasing efficiency" in U.S. cafes, with consumer behavior changing in the wake of the pandemic. Customers are increasingly ordering their coffees from their phones or drive-thru lanes instead of sitting in cafes. Three-quarters of drink orders in its latest quarter were cold beverages, usually with pricey add-ons.
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