Starbucks scales back discounts as new CEO seeks turnaround
SBUXStarbucks(SBUX) Fox Business·2024-10-15 05:06

Starbucks CEO Brian Niccol is pumping breaks on discounts as it tries to turn around the struggling coffee giant. The company has reduced discounts it offers during the past year since Niccol, tapped to become CEO in August, replacing Laxman Narasimhan, took over, executives told the Wall Street Journal.Niccol, formerly the Chipotle CEO, was chosen to replace Narasimhan after a slumping stock price and sales drop prompted pressure from activist investors and former CEO Howard Schultz, who posted on social m ...