When Howard Schultz acquired the local Seattle coffee chain Starbucks 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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