Says will “take time” for Back to Starbucks (SBUX) strategy to be fully implemented at all U.S. stores. Says mobilized cross-functional team to mitigate risks associated with tariffs where possible. Says majority of supply coming from Latin America. Says actively working on strengthening supply chain amid tariffs as needed. Says looking to shift merchandise production, which is largely done in China, to other sites.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SBUX:
- Starbucks says putting the customer back at the center of the business
- Starbucks says non-rewards member traffic stabilizing
- Starbucks says ‘better measures than EPS’ to track progress
- Starbucks reports Q2 adjusted EPS 34c, consensus 48c
- Starbucks CEO: Back to Starbucks plan the right strategy to turn around busines