Brian Niccol took over as Starbucks (SBUX) CEO on September 9 and has quickly laid out what’s wrong with the company, Julie Creswell of The New York Times reports. Specifically, Niccol commented, “It can feel transactional, menus can feel overwhelming, product is inconsistent, the wait too long or the handoff too hectic.” This is supported by the numbers, with the company’s recent preliminary report showing a 7% drop in global same-stores sales. But the issues Starbucks faces won’t necessarily be easy to address, with some customers too impacted by inflation to even consider $8 lattes, others boycotting the chain for a variety of reasons, and some having switched to coffee shop competitors. Additionally, Starbucks is a victim of its own success, with its eight-ingredient drinks taking too long to make.
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