Pumpkin spice latte returns to Starbucks as company hopes for fall boost

Starbucks' Financial Performance & Challenges - Starbucks' same-store sales are declining, with profits dropping more than 35% in the latest quarter compared to the previous year [2] - Starbucks' stock price is down about 5% year-to-date, while the S&P is up 10%, indicating underperformance [11] Pumpkin Spice Latte (PSL) Impact & Trends - The return of PSL and other fall beverages typically boosts Starbucks' sales, with foot traffic surging 24% on its opening day last year [4] - Pumpkin spice became a $500 million industry by 2015, demonstrating its significant market influence [6] - Starbucks is maintaining the same price for PSL this year, ranging from $5 to $7 across the country [10] - The PSL is particularly popular with millennials, but its appeal to younger consumers (Gen Z) is uncertain [7] Strategic Initiatives - Starbucks brought in Chipotle's former CEO to revive the brand, who slashed a third of the menu [3] - The company is focusing on providing a great customer experience and value [3] - Starbucks typically sells PSL until November, aiming to maximize sales during the pumpkin spice season [8]