Starbucks mugs are envisioned on a counter in Manhattan, New York, onFeb 16, 2022.
Carlo Allegri|Reuters
Starbucks CHIEF EXECUTIVE OFFICER Brian Niccol claimed the coffee chain intends to acquire regarding 200,000 Sharpie pens as component of his strategy to take the coffee chain back to its origins.
He’s wagering that even more individual touches– consisting of restoring pens to compose client names or messages on mugs– will certainly bring clients back to coffee shops. For 3 successive quarters, the business has actually reported decreasing sales. In Starbucks’ most current quarter, reported Wednesday, website traffic to its united state shops rolled 10%.
Some clients believe the coffee chain has actually wandered as well much from its core, according to Niccol.
While the business services a much more extensive turn-around technique, Niccol revealed some preliminary actions the business is requiring to reconstruct the Starbucks brand name in its home market. But also something as little as a pen isn’t a very easy job for Starbucks, which has virtually 17,000 areas in the united state
“I thought the number I heard was something like close to 200,000 Sharpies we’ve got to track down,” Niccol claimed in a meeting with’s “Squawk Box.” “Unfortunately, it’s not as simple as just going to the Staples and picking up some Sharpies.”
Other modifications involving united state coffee shops consist of the return of ceramic cups, spice bars and relaxing furnishings.
Niccol, that signed up with the business in very early September, claimed he desires the chain to come to be a “third place” once again, referencing the idea of a location to function and interact socially beyond the office or home.
For years, Starbucks placed itself as a location to stick around, however the business has actually shed that luster throughout the years.
Niccol claimed he’s likewise intending to boost staffing at shops and reduce solution times for each order to under 4 mins.
Shares of Starbucks have actually increased regarding 1% this year, tracking the S&P 500’s gains of 22%. The business has a market cap of $110 billion.
–‘s Jacqueline Corba added reporting for this tale.
