Starbucks Under 4 Minutes: CEO Brian Niccol's New 'Green Apron' Plan Aims To End Long Waits

Starbucks will roll out its “Green Apron Service” model to all 11,000 U.S. company-operated stores by September, according to Benzinga. The plan aims for a four-minute custom order completion goal, according to CEO Brian Niccol. The initiative, part of the “Back to Starbucks” strategy, includes a $500 million investment in additional labor hours over the next year, which the company calls its largest-ever investment in operating standards and customer service. Early pilots in 1,500 stores improved transactions, sales, and service times. Starbucks will also deploy Smart Queue technology to balance service between mobile and in-store orders after customer complaints of mobile priority. The announcement came as Starbucks posted fiscal third-quarter revenue of $9.46 billion, beating estimates of $9.29 billion, while adjusted earnings of 50 cents per share missed the 65-cent consensus. Piper Sandler raised its price target to $105 with an Overweight rating, while TD Cowen maintained a $95 target with a Hold rating.