#brianniccol

PBS NewsHour - The Latest | Starbucks to lay off 300 US corporate workers and close regional offices by Dee-Ann Durbin, Associated Press AI generated summary, Read the full article for complete information. Starbucks announced it will lay off about 300 corporate workers—primarily in marketing, human‑resources and supply‑chain roles—and close underused regional offices in cities such as Atlanta, Dallas and Chicago, while no coffee‑shop staff are affected. The cuts are part of a broader cost‑reduction and simplification effort led by CEO Brian Niccol, who has been reshaping the company’s structure since joining in 2024 after a prior wave of 2,000 corporate layoffs and dozens of store closures worldwide. Starbucks expects the moves to generate roughly $400 million in restructuring charges, including $120 million for employee separation benefits, and says the streamlined organization is already helping performance, with U.S. same‑store sales up 7% in the January‑March quarter. The company also plans to redesign 1,000 U.S. stores this year and is opening a new corporate campus in Nashville that could eventually employ up to 2,000 people. Read more: https://www.pbs.org/newshour/economy/starbucks-to-lay-off-300-us-corporate-workers-and-close-regional-offices #Starbucks #BrianNiccol

US Top News and Analysis | We're raising our price target on Starbucks after a robust beat-and-raise quarter AI generated summary, Read the full article for complete information. Starbucks topped Wall Street estimates for the quarter ended March 29, posting revenue of $9.53 billion (up 8.8% YoY) and adjusted earnings of $0.50 per share versus the expected $0.43, while annual adjusted EPS rose 22% and comparable store sales jumped 6.2%—well above the 4% consensus. The strong results, the first earnings beat in five quarters, reflected the momentum of CEO Brian Niccol’s turnaround plan, with U.S. comps accelerating to 7.1%, transaction growth hitting a three‑year high, and the Rewards program reaching a record 35.6 million active members. Internationally, all ten major markets posted positive comps, and the company announced a joint venture in China to de‑risk growth there. Management raised its FY 2026 outlook, targeting global and U.S. comparable‑store growth of at least 5% and adjusted EPS of $2.25‑$2.45, and lifted the price target to $115 from $100 while maintaining a wait‑for‑pullback buying stance. Read more: https://www.cnbc.com/2026/04/28/were-raising-our-price-target-on-starbucks-after-its-robust-quarter.html #Starbucks #BoyuCapital #BrianNiccol #NorthAmerica #China