Starbucks CEO Gets Unusual Drubbing on CNBC Following Earning Miss and Guidance Cut

Posted: May 01, 2024

- Starbucks CEO received criticism following an earnings miss and guidance cut on CNBC's Squak on the Street - Cramer cited consumer caution, economic volatility, competition, and weather as reasons for the decline - Starbucks' ongoing expansion was criticized as perilous by Cramer - Cramer mentioned Dunkin' Donuts, Tim Horton's, and McDonald's as gaining market share in the coffee/beverage space - Cramer called Starbucks' speed-of-service issues "fanciful statements" - Starbucks stock down nearly 17% at 12pm EST



Summarized top reddit comments: - Starbucks is losing shares in East Asia due to high prices compared to local sellers - CEO criticized for poor performance and decision to go on TV after earnings miss - Some investors considering selling due to company's poor performance and management decisions - Competition and wait times affecting Starbucks' market share - Local drive-through coffee shops similar to Starbucks impacting its market share - Economy may be affecting Starbucks' sales and performance



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