Starbucks released its latest financial numbers this week, and they are, in a word, "dismal," reports the New York Times. Sales have declined both in the US (6%) and worldwide (7%), particularly in China (14%). In fact, Starbucks "took the extraordinary step of suspending its financial guidance for the rest of the year," notes CNN. CEO Brian Niccol also released a video promising a new—and simpler—strategy.
- In short, "we've made it harder to be a customer than it should be," says Niccol.