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STARBUCKS IS HAVING AN IDENTITY CRISIS. CAN HOWARD SCHULTZ FIX IT?


THE FORMER CEO IS BACK FOR HIS THIRD STINT RUNNING THE COFFEE GIANT. BUT THE
COMPANY IS IN A VERY DIFFERENT PLACE THAN WHEN HE LEFT IT.


Peter Crowther
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By Heather Haddon

Apr. 22, 2022 9:55 am ET

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When Howard Schultz acquired the local Seattle coffee chain Starbucks SBUX
-1.32% ▼ in 1987, he imagined opening tens of thousands of Italian-style cafes
where people could linger over espresso, a “third place” between the home and
office. That vision left a mark on American consumer culture.

Now Mr. Schultz, 68 years old, is back at Starbucks Corp. for a third stint as
chief executive officer, and the company is a far different place than it was
when he stepped away in 2017. Customers get about 70% of their orders to go,
bypassing the spaces the company spent so much time and money creating. And many
of them want elaborate iced drinks, not handmade cups of espresso.

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