Companies

Starbucks Sales Continue to Slide as It Strives for Comeback Under New CEO

Starbucks Sales Continue to Slide as It Strives for Comeback Under New CEO
A sign outside of the Starbucks Center in Seattle on July 3, 2024. David Ryder/Getty Images
Panos Mourdoukoutas
|Updated:
0:00
News Analysis

Starbucks’s comeback under its new CEO is still a work in progress. Store sales continued to decline despite higher spending per transaction. The company’s turnaround plan, which includes ceramic mugs and free refills, is not enough to bring the hype for the old brand back.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”