Starbucks Frappuccino Sales Tell a Troubling Tale

Starbucks Corp. is in need of a pick-me-up. CEO Kevin Johnson acknowledged as much in outlining the company’s turnaround plans on Tuesday evening, saying in an interview with Bloomberg News that the coffee giant’s shareholders “deserve better.”

Johnson vowed to take a number of actions to shore up the business, including expanding its digital interactions with customers and working with an outside consultant to identify expense efficiencies. The one that’s grabbing most of the headlines is the decision to close 150 of its U.S. cafes in its next fiscal year, which would be about three times as many stores as it typically closes annually. Fair enough — but there were plenty of other details revealed by Starbucks that should give investors pause about the company’s ability to reinvigorate its sales.