Consumer
Starbucks Posts First Sales Drop Since 2020 During Global Pullback
- Transactions declined in every region over the second quarter
- The company cut year-end revenue estimate to single digits
This article is for subscribers only.
Starbucks Corp. sales fell for the first time since 2020 as half-off deals and new lavender lattes weren’t enough to entice increasingly budget-conscious consumers.
The shares tumbled as much as 16% in New York trading Wednesday, the most since the early days of the pandemic in March 2020.