While the overall market has delivered an impressive return in 2024, the same can’t be said for all, particularly Starbucks (SBUX) . Shares have faced consistent pressure amid worries surrounding China and declining same store sales.However, shares popped following news that Chipotle Mexican Grill (CMG) CEO Brian Niccol would be replacing Laxman Narasimhan as CEO of the company. Conversely, CMG shares fell following the news.In addition, it's critical to note that Brian Niccol was previously served as CEO o ...

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Key TakeawaysStarbucks shares will likely remain on watchlists Wednesday after surging 25% yesterday on news it had appointed Chipotle Mexican Grill CEO Brian Niccol as its new chief executive, replacing Laxman Narasimhan, who had served in the role for just 17 months.The company's share price has confirmed a double bottom, a chart pattern that signals a reversal from a prior down move to a new uptrend. Starbucks shares may find support around $90 and $83, but encounter resistance near $98 and $107.50. Star ...

Leadership can make all the difference, as Starbucks (NASDAQ: SBUX) stock has shown with its largest one-day gain in history, which amounted to 24.5% after the company appointed former Chipotle (NYSE: CMG) CEO Brian Niccol as its new boss.Niccol became Chipotle’s CEO in 2018, and since then, CMG stock has surged 773%, being outperformed by only nine companies from the S&P 500 during this period.His effect on SBUX stock was immediately felt, as the 24.5% daily gain on the stock market replicated an increase ...

Former Starbucks CEO Howard Schultz looms over the company's leadership, even after stepping down.The coffee giant just named Brian Niccol as CEO. He comes in from Chipotle.Schultz has endorsed Niccol as "the leader Starbucks needs". Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the ...

Starbucks' mobile order pick up has created unsurmountable operational issues with the legacy brand ... [+] known for service. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)UCG/Universal Images Group via Getty ImagesIn a swift and unexpected move, Starbucks ousted its chief executive officer, Laxman Narasimha. The recent earnings report shed light on the struggles of one of America’s favorite brands. The third quarter revenue for Starbucks dropped 4% in comparable store sales foll ...

CNBC's Jim Cramer on Tuesday discussed Starbucks' management shakeup, saying the new leadership will be crucial to turn the business around. The ubiquitous coffee chain on Tuesday announced it would replace current CEO Laxman Narasimhan with Brian Niccol, who is currently the CEO of Chipotle."Brian Niccol is the key to a new Starbucks, one that can reclaim its old mantle as the 'third place' — you just need to know that this turnaround can't happen overnight, he said. "But, I'm telling you, it's going to ha ...

Chipotle CEO Brian Niccol will take over as CEO of Starbucks Sept. 9, and he has the support of Starbucks founder and Chairman Emeritus Howard Schultz.“I know how excited [Schultz] is,” Starbucks board chair Mellody Hobson said during an interview with CNBC. “When I called him and told him what we were doing and what I have been working on and what the board had been pursuing, he said, ‘Mellody, that’s a home run.’”Schultz’s seal of approval heralds what leadership hopes will be a new era that addresses cha ...

Core Insights - Starbucks has appointed Brian Niccol, former CEO of Chipotle, to lead the company as it faces declining global sales and pressure from activist investors [1][2] Group 1: Leadership Change - Brian Niccol is recognized for successfully expanding Chipotle's footprint and sales during his tenure [1][2] - Niccol's appointment comes at a time when Starbucks is struggling with sales growth and increasing competition [2] Group 2: Challenges in China - Starbucks experienced a 14% decline in same-store sales in China during the fiscal 2024 third quarter, following an 11% drop in the previous quarter [3] - The decline is attributed to a 7% drop in both comparable transactions and average ticket [3] - The company is facing intense competition from local rivals like Luckin Coffee, which has more than double the number of locations in China compared to Starbucks [3] Group 3: U.S. Market Pressures - In the U.S., Starbucks reported a 2% decline in same-store sales, despite a 4% increase in average ticket [4] - The company has implemented a three-part action plan focusing on customer experience, new product development, and reaching new customers [4] - To attract customers, Starbucks has introduced discounts, including a $5 value meal [5] Group 4: Activist Investor Involvement - Starbucks has become a target for activist investors, including Elliott Investment Management and Starboard Value, who are pushing for changes to boost the company's stock price [6][7] - Following Niccol's appointment, Starbucks stock rose by 25%, indicating a potential positive response from investors [7] - Niccol's leadership at Chipotle saw a 777% increase in share price over nearly six and a half years, appealing to long-term shareholders [7]

Starbucks’ interim chief executive cashed in more than $341,000 in company stock on news that the java giant tapped Chipotle’s CEO Brian Niccol to replace its embattled boss Laxman Narasimhan, security filings show.Rachel Ruggeri — the Seattle-based coffee chain’s chief financial officer who will be its interim CEO until Niccol officially takes the reins on Sept. 9 — sold 3,750 shares to bag a windfall of $341,850, according to a Securities Exchange Commission filing. 4 Rachel Ruggeri, who is Starbucks’ C ...