Starbucks bets big on plant-based drinks as sales fall
Starbucks has revealed it is “leaning in” to offering more plant-based food and beverages in a bid to appeal to new customers amid disappointing fourth quarter sales.
The US coffee giant reported its fourth quarter earnings yesterday (2 November), with net revenue coming in at $5.7bn – below analysts’ estimate of $5.8bn. Meanwhile, total comparable sales rose 2% for the quarter, short of the estimate of 3.2% and compared to 4% last year.
Sales for Europe and the Middle Ea
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