Expert Slams Starbucks CEO's Response To Falling Stock Performance: 'You Got To Be On Drugs To Say Something Like That On National Television'
Portfolio Pulse from Benzinga Neuro
Former TD Ameritrade CEO Joe Moglia criticized Starbucks CEO Laxman Narasimhan's handling of the company's falling stock performance on CNBC's 'Last Call'. Moglia disagreed with Narasimhan's optimism about the company's plan despite a decline in stock value, following a disappointing quarterly performance with a global decline in comparable store sales of 4%, affected by weather conditions and global conflicts. Starbucks' stock closed at $72.90 and was slightly up in after-hours trading.
May 07, 2024 | 6:14 am
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Starbucks CEO criticized for handling of falling stock performance amid sales decline and challenging market conditions.
The criticism from a respected former CEO highlights concerns about Starbucks' current strategy and leadership's response to declining performance. This public critique, especially on a platform like CNBC, could further shake investor confidence in the company's direction and its stock's short-term prospects. The mention of specific challenges like global sales decline and external factors affecting performance underscores the seriousness of the situation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100