Starbucks CEO Schultz teases a company ‘reinvention’ heading into earnings

Starbucks Corp. posted a letter on its corporate site from Chief Executive Howard Schultz to the company’s workers on Monday that gives a sneak peek at big changes Schultz says are in store. “Today, we find ourselves in a position where we must modernize and transform the Starbucks experience in our stores and recreate an environment that is relevant, welcoming and safe, and where we uplift one another with dignity, respect and kindness. We need to reinvent Starbucks for the future,” the letter says. The specifics of these initiatives will come in the “weeks ahead,” Schultz said, but they will be focused on areas like environmental sustainability, customer experience, and the programs for employees. Starbucks is scheduled to report fiscal third-quarter earnings on August 2, according to FactSet. Starbucks said in May that there would be new employee programs coming in September. Starbucks shares have declined 33.6% for the year to date.

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