Starbucks Interim Chief Executive Howard Schultz said increased investment in the chain’s cafes and employees is putting the coffee giant on track for a turnaround by 2024.
Mr. Schultz, opening a highly anticipated investor briefing on Tuesday outlining the chain’s strategic revamp, said that Starbucks’s spending on cafe operations and worker benefits would boost sales and profit, and that shareholders would benefit from dividends and the eventual return of stock buybacks. The enhancements are expected to help improve customer service and employees’ experiences, he said.
