SBUX - It's Taking a Latte Time to Get That Coffee. Long Wait Times Have Hurt Starbucks Stock -- Can It Rebound?
2024-06-06 05:03:00 ET
If you've noticed that it takes longer to get your coffee or latte from Starbucks (NASDAQ: SBUX) , you're not alone. This has been leading to increasingly frustrated customers and helped play a part in the company reporting disappointing fiscal second-quarter results that saw sales decline 2% to $8.6 billion. It was its first quarterly revenue decline since 2020 when COVID-19 affected sales.
Starbucks' operational issues have hurt its stock price as well, which is down more than 15% over the past year, while the S&P 500 is up more than 25% over the same period.
Let's look at what is causing Starbucks' long wait time issues, what it's looking to do to fix the problem, and whether the stock can rebound from its recent missteps.
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It's Taking a "Latte" Time to Get That Coffee. Long Wait Times Have Hurt Starbucks Stock -- Can It Rebound?