People seen around the Starbucks coffee store in Shenzhen, China. Jakub Porzycki | Nurphoto | Getty Images In May, it was a $2.5 billion stake in Texas Instruments and a $1 billion-plus position at Johnson Controls. In June came a $2 billion stake in Southwest Airlines and an equally large investment in Japanese conglomerate SoftBank. … Read more
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Wall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decades-long Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job … Read more
Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump, sending its stock soaring more than 20%. Chipotle’s stock fell 10% on the news that Niccol would leave after a successful tenure at the burrito chain. Narasimhan’s departure is effective immediately. Starbucks … Read more
Starbucks glass art on a store in Tokyo. Jakub Porzycki | Nurphoto | Getty Images Starbucks on Tuesday reported quarterly revenue that missed analysts’ expectations as both its U.S. and international cafes faced weaker demand. Shares of the company rose more than 1% in extended trading. Here’s what the company reported compared with what Wall … Read more
A Starbucks coffee shop in Amsterdam. Nicolas Economou | Nurphoto | Getty Images Elliott Management has taken a significant stake in coffee chain Starbucks and is engaging with management to find ways to improve the company’s share price, the Wall Street Journal reported Friday, citing people familiar with the matter. Representatives for Elliott declined to … Read more
Starbucks ‘ new breakfast deals may hit the sweet spot for customers. But the coffee giant needs to serve up bigger changes to its operations to get back into Wall Street’s good graces. Offering food and beverage combos may boost Starbucks’ traffic in the short-term, analysts said, but it’s probably not a sustainable path over … Read more
