Starbucks Interim Chief Executive Howard Schultz outlined a wide-ranging revamp of the coffee chain, ranging from cafe upgrades to expanded employee benefits, which he said is necessary to put the company on track for a turnaround by 2024.
Starbucks over the coming year plans to spend hundreds of millions of dollars to update its stores, aimed at improving customer service and reducing employee turnover. It expects to spend between $2.5 to $3 billion annually through its 2025 fiscal year to build new types of stores and deploy updated equipment across locations, the company said.
