00:00Remember the guy from Chipotle who said if you want a little more protein, just give them a look?
00:04All you gotta do is kind of like...
00:06Well, that's Brian Nickel, and Starbucks brought him on as CEO last August to revive its struggling coffee empire.
00:11Investors were buzzing with excitement, hoping he'd whip up a miracle macchiato.
00:15But fast forward to now, and the caffeine high is starting to wear off.
00:18Starbucks just posted its fifth straight quarter of declining same-store sales and profits down 50%.
00:24Now, while there are many factors behind that number, many coffee business aficionados point to CEO Brian Nickel, specifically his Back to Starbucks strategy.
00:32This push was all about bringing the cozy vibes and nostalgia back to Starbucks.
00:36Comfy chairs, ceramic mugs, and free dairy-free milk at the condiment bar.
00:40Nickel also trimmed 30% off the menu and swapped out the high-tech drink machines for more baristas.
00:44But this throwback makeover was not cheap. Operating costs are up, and growth is still elusive.
00:49As one analyst put it, this is a lot more complex than Chipotle.
00:53Fixing Starbucks might take more than comfy chairs and free oat milk.
00:57We'll see how the fall season treats the coffee giant, but until then, let us know what you think in the comments, and of course, follow us here for more.
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