Patrons leave a Starbucks location in Toronto on Tuesday. Starbucks stock has lost roughly 20 per cent of its value over the last five years as the broad-market S&P 500 has gained more than 80 per cent. In July, the company fell short of sales expectations due to weakening demand in the United States and China.
Starbucks will stop charging customers an extra fee for substituting dairy milk with a non-dairy alternative, the company announced on Wednesday.Patrons leave a Starbucks location in Toronto. Starbucks will stop charging customers an extra fee for substituting dairy milk with a non-dairy alternative, part of the mega coffee chain's efforts to revitalize its brand during a year where it struggled with slumping sales and consumer boycotts.
Brian Niccol, named chair and chief executive officer of Starbucks on Aug. 13, 2024, is shown in a June 2015 interview in New York. "Starbucks has been under a lot of pressure recently in terms of sales," especially as consumers stretched by inflation choose more affordable options, said Bruce Winder, a retail analyst based in Toronto.
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