On April 30, coffee giant (NASDAQ: SBUX) reported financial results for its fiscal second quarter of 2024, and the stock was immediately crushed as a result. In a subsequent interview with CNBC, CEO Laxman Narasimhan identified the company's problem from his perspective by saying: "We have not been able to communicate to [occasional customers] the value that we provide."

One week later, Starbucks started rolling out the deals for the 33 million users of its mobile app. The company hopes to win business from occasional customers by providing bargains.

I believe it's the wrong (and a potentially costly) move for Starbucks. And it's what I'm most concerned about as a shareholder right now.

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Source Fool.com