NEW YORK, July 30 — Starbucks reported lower profits Tuesday behind broad-based sales declines, but shares rose as the company said a turnaround was on track. The results came...
NEW YORK, July 30 — Starbucks reported lower profits Tuesday behind broad-based sales declines, but shares rose as the company said a turnaround was on track.
Narasimhan emphasised improved training, employee management and technology enhancements that are paying off. Business and operational indicators are improving “ahead of our financial results and our runway is long,” he said on a conference call with analysts. But Narasimhan also pledged a sharper focus on operations to, for example, ensure a better fulfilment of customer orders during the morning rush hour.
Narasimhan confirmed Elliott’s stake and said conversations with the firm have been “constructive” for Starbucks.
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