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Starbucks shares slide after coffee chain says sales fell again, suspends outlook
Starbucks cups are pictured on a counter in Manhattan, New York, on Feb. 16, 2022. Carlo Allegri | Reuters Starbucks on Tuesday posted preliminary quarterly results, which showed its sales fell again as the coffee chain tries to execute a turnaround. “Our fourth quarter performance makes it clear that we need to fundamentally change our […]
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Starbucks taps former Chipotle executive as global chief brand officer
Tressie Lieberman, the incoming global chief brand officer at Starbucks. Courtesy: Starbucks Starbucks has tapped Chipotle alum Tressie Lieberman as its global chief brand officer, a newly created position and the latest executive change under Brian Niccol after he left Chipotle and took over as CEO of the coffee chain last month. In Niccol’s first […]
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New Starbucks CEO Brian Niccol commits to working with union as talks move forward
A Starbucks worker wears a t-shirt and button promoting unionization on April 7, 2022, in Chicago. John J. Kim | Chicago Tribune | Tribune News Service | Getty Images Starbucks CEO Brian Niccol said the coffee chain is committed to bargaining in good faith with the union that represents many of its baristas, as the […]
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New Starbucks CEO Brian Niccol outlines priorities to end coffee chain’s slump
Brian Niccol, incoming CEO of Starbucks Anjali Sundaram | CNBC New Starbucks CEO Brian Niccol will focus on improving the chain’s U.S. business in his first 100 days on the job before he moves to fix its issues abroad, according to an open letter published on Tuesday. The coffee giant named Niccol as chief executive […]
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To fix Starbucks, incoming CEO Brian Niccol will have to tackle its mobile app problem
Mobile order and Uber Eats and Doordash delivery pick up area at Starbucks coffee shop, Queens, New York. Lindsey Nicholson | UCG | Universal Images Group | Getty Images It’s become a familiar sight at Starbucks cafes: a counter crowded with mobile orders, frustrated customers waiting for the drinks they ordered and overwhelmed baristas trying […]
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Brian Niccol’s fix for Starbucks’ China cafes could set the tone for where shares head next
After the surprise leadership change at Starbucks this week, Wall Street has focused on what’s next for its struggling China business amid a rough patch for the stock. Starbucks announced earlier this week that Chipotle CEO Brian Niccol would helm the coffee chain, replacing Laxman Narasimhan. Afterward, investors sent the shares soaring and the Street […]
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TikTok and fast-food rivalry fuel Chili’s sales as parent Brinker says turnaround is taking hold
An ad campaign targeting fast-food chains and a TikTok-viral appetizer helped Chili’s same-store sales climb nearly 15% in its latest quarter. But Kevin Hochman, CEO of parent company Brinker International, told CNBC that the chain’s strong performance is just a sign that customers are finally catching onto the chain’s two-year turnaround. Shares of Brinker have […]
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Starbucks is giving incoming CEO Brian Niccol $85 million in cash and stock for leaving Chipotle
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill. Niccol officially takes the reins at the embattled coffee chain on Sept. 9. As CEO, he’ll be […]
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Stocks making the biggest moves premarket: Kellanova, Alphabet, Flutter and more
Check out the companies making headlines in premarket trading. Kellanova — Shares rose more than 6% in the premarket after the foodmaker agreed to be acquired by snackmaker Mars for $83.50 per share in cash. The deal values Kellanova at about $36 billion and is expected to close in the first half of 2025. Alphabet […]
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CNBC Daily Open: Wall Street surges; Starbucks ousts CEO
Traders work on the floor of the New York Stock Exchange during morning trading on June 12, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no […]
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