Starbucks shares rebound after earnings-related decline as the company tries to reinvent itself

After missing the mark with its quarterly results, American coffee giant Starbucks recorded a share price decline of over 4 percent in intraday trading. However, shares rebounded somewhat on Wednesday as the company looks to reverse course.

Change ways

According to recent reports, the coffee company, which recently appointed a new CEO, wants to simplify its coffee-making process.

The company, which began as a coffee bean selling company, moved into coffee making and expanded significantly under the leadership of its long-time CEO, Howard Schultz.

Simplification of the menu

According to some, one of its biggest attractions has become something of an Achilles heel. And it is indeed the facet of complicated and almost incomprehensible orders and ever-growing dishes on the menu.

As simple as they may be, the complexity of the company’s menu was an issue that many cited as one of the reasons for the company’s slowdown.

This creates logistical problems due to a lack of qualified baristas who could prepare these orders. In 2014, the company had a whopping 255 items on its menu; Over the past decade, the menu and its size have not helped sales.

The chain operates 38,137 stores worldwide. In India, the company operates its stores in partnership with the Tata Group.

Starbucks recently named a new CEO, former Chipotle boss Brian Niccol, after firing its former CEO, Indian-born Laxman Narasimhan.

Starbucks shares in the green

Starbucks Corp.’s shares are listed on the NASDAQ. recorded an increase of 2.43 percent in the last five trading sessions, with a decline in value on October 22 and 23.

The company’s shares continued to rise on Thursday, October 24. Shares of the burger company closed at $97.65. This was the result of an increase of 0.86 percent or Rs 0.83.