Shoppers walking into any Starbucks across the country are greeted not only by the smell of espresso and fresh ground coffee, but also by displays of themed coffee mugs, thermoses and coffee-brewing equipment such as french presses.
But Starbucks is scaling back those products by about 30 percent as part of an effort to to streamline its business and pull back on efforts that don't grow revenue and profit.
The Seattle-based coffee company is removing about 200 products from its store shelves, CFO Scott Maw told investors in January while discussing first-quarter financial results.
"We are examining each of our businesses in order to focus our investments on those businesses that will meaningfully contribute to revenue and profit growth, while licensing or exciting those that won't," Maw said, according to a Seeking Alpha transcript. "This simplification effort increases our focus and reduces operational complexity in our stores."
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