Starbucks continues to reign asone of the world’s largest and most profitable restaurant chains.
In North America specifically, same-store sales and transactions declined by 3% and 7%, respectively.
According to Starbucks executives, several reasons contributed to its unusually iffy quarter.
Elena Babanova / Shutterstock
“Our performance this quarter was disappointing and did not meet our expectations,” Narasimhan said.
Troubles in some of Starbucks' international markets have only added to its financial woes.
“We have a clear plan to execute and the entire organization is mobilized around it.
Photo: Kollawat Somsri / Shutterstock
