Starbucks CEO Says Turnaround Is Entering Next Phase

According to CNBC, Starbucks CEO Brian Niccol said the coffee chain is ready to move into its next phase after two years of turnaround efforts. He said the company has renovated more than 1,000 locations over the past nine months and expects to finish 1,500 or more by the end of the 2026 fiscal year, with thousands more to be updated in the following fiscal year. Niccol said Starbucks is using digital menu boards and new products, including protein drinks, refreshers and seasonal items such as pumpkin spice drinks, to keep the brand culturally relevant and attract customers at more times of day. He also said Starbucks sold 60% of its China business to Boyu Capital, and that Boyu and Starbucks share a vision to grow the business in China, where there are currently 8,000 coffeehouses and Boyu aims to eventually reach 15,000 to 20,000 locations. Niccol said the company will continue labor talks with unionized workers.