Is Starbucks a Buy With Howard Shultz Back in the Driver's Seat?
COVID-19 has been brutal for coffee king Starbucks (NASDAQ: SBUX). Although it's rebounded from earlier sales declines and is posting record revenue, it's still dealing with regional challenges that threaten to close its dining rooms in some areas, as well as rising costs and worker unrest.
The company's stock has been depressed as investors are uncertain about how to value the company in these trying times. Its price has lagged those of similar restaurant chains, and is down 27% over the past year.
To add to the uncertainty, CEO Kevin Johnson announced that he will be stepping down at the end of the fiscal year. While the company searches for a new leader, founder Howard Schultz is moving back into the driver's seat for the third time. What does this mean for Starbucks?
Source Fool.com
