Singapore – Starbucks is scaling back products by roughly 30 percent as part of an effort to streamline its business and pull back on efforts that don’t grow revenue and profit.
The Seattle-based coffee company is removing roughly 200 products from its store shelves, Chief Financial Officer Scott Maw told investors while discussing first-quarter financial results.
Earnings fell short of Wall Street’s expectations in part due to tepid holiday sales, including holiday merchandise. Starbucks has not yet said what products will be rolled back or when.
