00:00It's Benzinga, and here's what's on the block.
00:03Starbucks welcomes Brian Nickell as CEO effective Monday as the coffee giant grapples with declining
00:07sales and stock prices.
00:10Customers are pulling back, often seeking cheaper alternatives at competitors like Dunkin
00:13and McDonald's.
00:15The company is also grappling with its image as a progressive brand as unionization efforts
00:19led by younger baristas have created tension.
00:22The surge in mobile orders has overwhelmed stores, frustrating both customers and staff.
00:27Sluggish post-pandemic recovery and competition in China have hit the coffee giant hard.
00:32Nickell will need to revamp Starbucks' pricing strategy, improve digital order operations,
00:36restore its progressive brand image, and address international challenges.
00:40For all things money, visit Benzinga.com.
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