With its bottom line of one of the leading coffeehouse franchises in the world looking a bit decaffeinated these days, one of its former leaders took to social media to offer what he believes is some sage advice.
In a post on Linkedin, Howard Schultz, the ex-CEO of Starbucks, addressed what he called the company’s “fall from grace.”
He placed blame for the dip in sales squarely on the company’s “U.S. operations,” but he also offered some advice for those who currently helm the brand he once led.
Shultz said that, when companies miss the mark on their financial goals, that’s when it’s time to drill down hard on what people want from them, recommending “a maniacal focus on the customer experience.”
He also suggested the company undertake more “coffee-forward innovation” and said Starbucks should try improving the mobile-ordering experience.
“There is a natural tendency to try to do too much too soon,” he wrote, advising them to keep things simple. “Don’t try to do everything at once. Leaders must model both humility and confidence as they work to restore trust and increase performance across the organization.”
The 2% drop in sales for January-March of this year was the first quarterly backslide since 2020 for the coffee behemoth.