The new boss of Starbucks says he will overhaul the global coffee chain's menu as the company continues to see its sales slide. Brian Niccol also announced that he was suspending the firm's financial forecasts for the coming year due to the "current state of the business".

Starbucks has been under pressure for awhile. Following two quarters of consecutive declines in sales and a stock price that dropped nearly 30 percent in six months, the board of directors decided this summer to abruptly replace its then-chief executive, Laxman Narasimhan.

The coffee chain needs to “fundamentally change” strategy, the new CEO, Brian Niccol, said. Shares fell in after-hours trading.

Starbucks Corp. pulled guidance for 2025 after sales plunged for a third consecutive quarter, calling attention to the scope of the problems facing new Chief Executive Officer Brian Niccol.Most Read f

Good morning. Starbucks sales slumped again, sending its share price lower. China’s electric vehicle exports to Europe soar ahead of incoming levies. And Louis Vuitton put a twist on its handbag for women on the go.