![]() Specifically, “food could use more work,” he said. “There is more work to do to tailor our stores on the demand that we see, advance our technology, enhance how we innovate our equipment and also more fundamentally, how we get back to focusing on fundamental operations and executing better,” Narasimhan said during the call. Narasimhan sees room for improvement in the business. Laxman Narasimhan at Starbucks Investor Day, Tuesday, Sept. (SBUX) shares fell about 5% after the bell. (SBUX) reiterated its original outlook for the year, and CFO Rachel Ruggeri warned that its annual earnings per share growth in the current quarter would “be meaningfully lower than our fiscal year guidance range of 15% to 20%.” Starbucks In China, where Starbucks has been hampered in part by Covid restrictions, sales at stores open at least 13 months jumped 3% - a better result than the company expected.īut despite the positive results, Starbucks In the quarter ending on April 2, sales at company-operated Starbucks stores open at least 13 months jumped 11% globally, including a 12% increase in North America. “Our performance is strong, but our health could be stronger,” he said during a Tuesday analyst call. ![]() He didn’t mention the unionizaton drive sweeping through stores, however. He outlined how he thinks stores can better meet demand. During his first earnings call as the new Starbucks CEO, Laxman Narasimhan praised the company for its financial performance.
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