Why Starbucks Is Struggling
Starbucks reported a global same-store sales decline of 3% and missed revenue expectations by $130 million in its fiscal third-quarter earnings on July 30, 2024. Its share price has tumbled nearly 25% in the past year. That's all due to operating challenges, an increasingly price conscious consumer and boycotts related to the Israel-Hamas war. Still, the coffee giant accounted for more than 25% of the U.S. coffee and snack shop market in 2023.