CNBC | Why Starbucks Is Struggling @CNBC | Uploaded August 2024 | Updated October 2024, 11 hours ago.
Starbucks reported a global same-store sales decline of 3% and missed revenue expectations by $130 million in its fiscal third-quarter earnings on July 30, 2024. Its share price has tumbled nearly 25% in the past year. That's all due to operating challenges, an increasingly price conscious consumer and boycotts related to the Israel-Hamas war. Still, the coffee giant accounted for more than 25% of the U.S. coffee and snack shop market in 2023.
Chapters:
0:00 Introduction
1:25 Chapter 1: Challenges
4:00 Chapter 2: Value wars
7:40 Chapter 3: Unions and boycotts
9:30 Chapter 4: Fixing its problems
Produced and Edited by: Ryan Baker
Camera and Audio by: Natalie Rice, Cary Patton, Steven Bechtold
Animation: Christina Locopo, Emily Rabbideau
Senior Managing Producer: Tala Hadavi
Field Producer: Kevin Schmidt
Additional Footage: Getty Images
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Why Starbucks Is Struggling
Starbucks reported a global same-store sales decline of 3% and missed revenue expectations by $130 million in its fiscal third-quarter earnings on July 30, 2024. Its share price has tumbled nearly 25% in the past year. That's all due to operating challenges, an increasingly price conscious consumer and boycotts related to the Israel-Hamas war. Still, the coffee giant accounted for more than 25% of the U.S. coffee and snack shop market in 2023.
Chapters:
0:00 Introduction
1:25 Chapter 1: Challenges
4:00 Chapter 2: Value wars
7:40 Chapter 3: Unions and boycotts
9:30 Chapter 4: Fixing its problems
Produced and Edited by: Ryan Baker
Camera and Audio by: Natalie Rice, Cary Patton, Steven Bechtold
Animation: Christina Locopo, Emily Rabbideau
Senior Managing Producer: Tala Hadavi
Field Producer: Kevin Schmidt
Additional Footage: Getty Images
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to be more successful and confident with your money? Take CNBC Make It’s new online course. Our expert instructors will help you master your money and discover practical strategies to boost your savings, reduce debt, and grow your wealth—in a way that works best for you. Enroll in "Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure" to start your journey to financial freedom today! Get a 30% discount with the coupon code EARLYBIRD until September 2, 2024: https://cnb.cx/3WiasGB
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Why Starbucks Is Struggling
