Starbucks looks to hit reset button. Here's how its new CEO plans to renew the aging brand.
CBSN
Starbucks is looking to turn its business around by being less of a fast-food chain and more of a neighborhood coffee house.
Brian Niccol, the struggling company's new CEO, on Thursday shared his vision of Starbucks becoming "a welcoming coffee house where people gather and where we serve the finest coffee."
Talking to analysts for the first time since taking the job on September 9, Niccol laid out his plan to reverse a trend illustrated in the company's fiscal fourth-quarter results, which had same-store sales down 7%, the third straight such drop. For the full year, Starbucks said its revenue rose less than 1% to $36 billion.
For more than a century, President Grover Cleveland was in a league of his own as the only leader of the nation to serve non-consecutive terms as the 22nd and 24th president of the U.S. Now, Cleveland shares that honor with President-elect Donald Trump, who was the 45th president of the U.S. and will soon take office as the 47th. But in Cleveland's hometown, locals still want to preserve his legacy.