Starbucks to streamline ‘overly complex’ menu, fix prices as sales dip
Narasimhan’s replacement was immediately cheered by some of Starbucks’ biggest investors, and Wall Street responded with enthusiasm as the share price rose 25% in one day after the announcement. Niccol was viewed as a fixer for the stalled brand, which has dealt with struggling sales in its biggest markets like the U.S. and China.