Despite new CEO’s turnaround plan, preliminary report shows Starbucks sales continue to fall

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Despite new CEO’s turnaround plan, preliminary report shows Starbucks sales continue to fall
Brian NiccolLaxman Narasimhan
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NEW YORK, Oct 23 — US coffee giant Starbucks yesterday released preliminary results showing that sales are continuing to fall, as the new CEO vowed a strategic overhaul to turn...

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“Our fourth quarter performance makes it clear that we need to fundamentally change our strategy so we can get back to growth and that’s exactly what we are doing with our ‘Back to Starbucks’ plan,” CEO Brian Niccol said in a statement. Niccol took over the chain last month, after the abrupt departure in August of Laxman Narasimhan, who had held the post of CEO for only 16 months.

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