As for store closures, Johnson said the ones it's targeting are unlikely to be moved or replaced, with their business ideally moving to other shops and raising overall system performance. At Starbucks, Frappuccino sales were down 3 percent this year through May.
'While certain demand headwinds are transitory, and some of our cost increases are appropriate investments for the future, our recent performance does not reflect the potential of our exceptional brand and is not acceptable, ' Johnson said in a statement.
The former Chairman Howard Schultz stepped down earlier in June.
The company made the announcement after lowering its guidancefor comparable same-store sales growth in the current quarter to just 1%, well below the 2.9% expected by analysts.
Through 2020, Starbucks expects to return about $25 billion in cash to shareholders through buybacks and dividends, a $10 billion increase from its previously announced target.
Starbucks stock fell in after-hours trading. That's their lowest quarterly growth since 2009, Bloomberg.com reported. Starbucks closed its USA stores on May 29 to conduct racial-bias training for its employees. "It is not an excuse", for the 1 percent growth rate, he added.
Starbucks says it can attract more diners in the US with new menu items and will focus on its expanding tea business, as well as capitalizing on health and wellness trends.
The company also said it would look to cut general and administrative expenses with plans to partner with an external consultant to speed up the process. Most of the new locations it opens will be in underserved markets.
Starbucks also said it will shift new store openings to under penetrated markets and slow licensed store growth.
The most controversial aspect of Canada's move has been setting the minimum age for use at 18 or 19, depending on the province. The Senate voted 52 to 29 in favor of a revised bill from the elected House of Commons, and there were two abstentions.
Real Madrid and Spain captain Sergio Ramos was the man who inflicted the shoulder injury that put Salah's World Cup at risk. Edinson Cavani may have not scored against Egypt, but he leaves the World Cup game with a special memorabilia .
I'd like to say it's un-American, but it's happening right now in America", O'Rourke added. "It's zero tolerance . Part of that approach has been separating children from their parents who are detained.
But she couldn't "turn a blind eye" to his conduct or ensure he would abide by her orders if he remained on house arrest. The filing marks the second time that Mueller's team has accused Manafort of violating a judge's order in the case.
As we've seen with al-Qaeda and other terrorist groups, cutting off the head of the snake is useful but not decisive. Earlier Friday reliable sources told TOLOnews that Fazlullah had been killed in Kunar Province in Afghanistan.
The 47-member council has a number of powers, including the ability to establish panels that probe alleged human rights abuses. Critics say this sends a message that the administration turns a blind eye to human rights abuses in some parts of the world.
These comments come in the context of criticism that has been lodged at Trump for his lenient descriptions of the dictator. Officials have not verified reports that North Korea may have demolished a stand used for missile-ejection tests in May.
Boyd said Border Patrol agents began chasing the SUV around noon and then Dimmit County Sheriff's deputy took over, CNN reported . Authorities said five undocumented immigrants are dead following a chase involving Border Patrol agents Sunday afternoon.
Morocco coach Herve Renard is expecting Portugal to give his side a tougher game than they had against Iran. And he claims there is no reason why the 33-year-old could not play at the next World Cup in Qatar in 2022.
Maddison was looking to stay in the Midlands region where he grew up and hence chose to join the 2015/16 Premier League champions. And the bookies have cut the odds on Willian joining United with Mourinho tipped to splash the cash in the coming weeks.
Brazil joined the list of big teams struggling to win their opening matches at the World Cup in Russian Federation . In contrast, the Mexican side consists of 18 of the 23 players who competed a year ago .
Disney Ups Fox Bid to $71.3 Billion, Outflanking Comcast
Fox's board said it still has the right to weigh competing offers, signaling that the bidding war for its assets could continue. In order to sweeten the pot for their 21st Century Fox bid, Walt Disney has upped their initial offer once again.
As Kim visits China, Xi flaunts bargaining chip in trade dispute
On Tuesday, the USA and South Korean militaries confirmed they have called off scheduled joint exercises following Trump's order. As NPR's Anthony Kuhn notes, Chinese state media have even publicly announced this third visit with Kim still in the country.
Beyoncé, Jay-Z Release Surprise Album
Beyonce pioneered this brand of musical "guerilla attack" with her 2013 self-titled album , which included videos for each track. Beyonce and Jay-Z surprised fans yet again by dropping a new joint album , " Everything Is Love ", on Saturday.
Brazil vs. Switzerland preview, players to watch, key stats
A young German side previous year won the Confederations Cup in Russian Federation , thumping Mexico 4-1 along the way. The day begins in Samara, about 650 miles (1,050 kilometers) east of Moscow, with the other teams in the deep Group E.
Winning goal causes natural disaster in Mexico
Whenever they have won the World Cup , they have always brought a transformational change in football. Another alternative to watch Mexico vs Germany is to try out the FuboTV 7-day free trial .
OnePlus 6 Phones Selling Like Hotcakes Worldwide
Despite all this top-notch hardware mix, the OnePlus 6 comes with a starting price of Rs. 34,999 in India and $529 in the US. In terms of specifications, the device features a 6.28-inch FullHD+ Optic AMOLED display with an aspect ratio of 19:9.