Starbucks

Howard Schultz promised 10–12% a year. Now it is 1% in FY24; guidance suspended.

🇺🇸 United States · Restaurants

Starbucks100IntegrityHSHoward Schultzinterim CEO, 2022–2023, StarbucksPromisedhow much sales grew each year10–12% a year13 September 2022

🇺🇸 United States · Restaurants

Starbucks60IntegrityHSHoward Schultzinterim CEO, 2022–2023, Starbucks

Did Starbucks keep its promise to grow sales 10–12% a year through 2025? (plain)

The new promiseA three-year growth plan ended early when guidance was suspended.

Max Noble Odds: 50% chance he keeps it. They move with every call. Against the odds you win more, and lose more.

He promised

Sales would grow 10–12% and earnings per share 15–20% every year until 2025.

Howard Schultz, interim CEO, 2022–2023, on 13 September 2022.

He got

Sales grew 1% in 2024, earnings fell, and the forecast was suspended.

Stamp: Quietly dropped.

Why, says the company

Fewer customers came in, and China got harder.

How bad

Big miss. Growth fell far below the lowest number promised, and the plan was stopped a year early. Score 100 → 60.

In the company’s own words

Starbucks blamed a sharp fall in customer traffic, a cautious consumer and competition and economic pressure in China, and suspended guidance because of the CEO change. Laxman Narasimhan led the plan as CEO in 2023–2024; his successor Brian Niccol now answers for it.

The sources

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