We're simplifying our menu to focus on fewer, more popular items, executed with excellence. This will make way for innovation, help reduce wait times, improve quality and consistency, and align with our core identity as a coffee company,
We are simplifying our structure, removing layers and duplication and creating smaller, more nimble teams,
We are developing a plan to turn around our business, but it will take time. We want to amplify our confidence in the business, and provide some certainty as we drive our turnaround. For that reason, we have increased our dividend,
Our size and structure can slow us down, with too many layers, managers of small teams and roles focused primarily on coordinating work."
Despite our heightened investments, we were unable to change the trajectory of our traffic decline, resulting in pressures in both our top-line and bottom-line. While our efficiency efforts continued to produce according to plan, they were not enough to outpace the impact of the decline in traffic."
In January, I shared that we were evaluating the role, structure and size of our global support teams to help us deliver on our “Back to Starbucks” plan and position the company for future success,
We’ve taken steps to refocus the business, our mission and our marketing to better align with our identity as a coffee company,