, reporting customer traffic declines, a 4% drop in global same-store sales, and a 6% decline in global transactions. In North America specifically, same-store sales and transactions declined by 3% and 7%, respectively.This is Starbucks' first negative financial performance since 2020, when its shops temporarily stopped offering dine-in service amid the pandemic,that budget-conscious consumers have been more careful about their spending, which has taken a toll on guest traffic.
" did not meet our expectations, but we understand the specific challenges and opportunities immediately in front of us," Narasimhan said in a statement."We have a clear plan to execute and the entire organization is mobilized around it."Zoe Strozewski is a News Writer for Eat This, Not That! A Chicago native who now lives in New Jersey, she graduated from Kean University in 2020 with a bachelor’s degree in journalism.
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