#Starbucks to #Simplify #Menu and #Adjust #Prices as #Sales #Dip in #Major #Markets

Starbucks has announced plans to streamline its menu and fix its pricing after reporting a decline in revenue for the third straight quarter. In its preliminary fourth-quarter results, Starbucks revealed a 3% year-over-year drop in revenue, totaling $9.1 billion. The company’s biggest markets, including the U.S. and China, have seen significant declines in sales. U.S. stores reported a 6% drop in same-store sales, while sales in China fell by 14%. Starbucks CEO Brian Niccol, who joined from Chipotle in August, announced a “Back to Starbucks” plan, focused on simplifying the menu, adjusting pricing, and returning to the company’s roots of cozy coffeehouses and customer satisfaction. Niccol acknowledged that the current menu is overly complex and contributing to declining sales. He committed to making Starbucks a place “worth visiting every single time.” The company is also suspending its annual forecast for 2025 to focus on its turnaround. Despite the challenges, Starbucks remains opt