Starbucks CEO Brian Niccol speaks with FOX Business’ Liz Claman from the company’s leadership conference, where he weighs in on top priorities and growth strategies, as well as adding protein cold foam to drinks in menu innovation.
The announcement many Starbucks connoisseurs have awaited is here: the return of the coffee giant’s fan favorite Pumpkin Spice Latte.
The company said that the “PSL” will return to store menus on Aug. 26, a few days later than last year, but still ahead of fall, which starts on Sept. 22 this year.
Starbucks’ drink is made with espresso, steamed milk, Pumpkin Spice Syrup, whipped cream and topped with pumpkin pie spice. It also features real pumpkin. It was introduced in 2003 in Washington, D.C., and Vancouver, followed by a nationwide rollout in 2004.
STARBUCKS CHANGES REMOTE WORK POLICY, REQUIRES EMPLOYEES IN OFFICE 4 DAYS AMID TURNAROUND EFFORT
The Pumpkin Spice Latte is returning to Starbucks’ menu on Aug. 26. (Christina Tkacik/Baltimore Sun/Tribune News Service via Getty Images / Getty Images)
Other pumpkin-related drinks are also returning to Starbucks’ menu, including the Pumpkin Cream Cold Brew, Iced Pumpkin Cream Chai and the Pecan Crunch Oatmilk Latte. The company is also introducing two new items – a Pecan Cortado and Italian Sausage Egg Bites.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 92.66 | -1.14 | -1.22% |
The return of the fan favorite comes amid Starbucks CEO Brian Niccol’s effort to turn around the business through his “Back to Starbucks” strategy.
STARBUCKS CUTTING 30% OF ITS ‘OVERLY COMPLEX’ MENU
This year’s release comes amid Starbucks CEO Brian Niccol’s turnaround plan dubbed “Back to Starbucks.” (Michael Reaves/Getty Images / Getty Images)
Niccol is not only working to boost profitability, but also to improve the work environment to create the “unrivaled best job in retail” after the company faced years of growing pressure from unionization campaigns nationwide and consecutive disappointing fiscal quarters as traffic declined.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
He has been working to streamline operations, which included axing 1,100 support partner roles and closing several hundred open, unfilled positions earlier this year to build more agile teams. He also announced plans to simplify the company’s menu, which has already removed over a dozen less popular drinks to encourage innovation and reduce wait times.
The return of the Pumpkin Spice Latte comes amid Starbucks CEO Brian Niccol’s effort to turn around the business through his “Back to Starbucks” strategy. (Waldo Swiegers/Bloomberg via Getty Images / Getty Images)
Niccol has also been working on returning the cafés to their former “coffeehouse” aesthetic with “personal touches” like offering mugs and writing names on cups with Sharpies, as well as bringing back the condiment bar. The goal is to keep customers in its stores for longer.
The company has also been boosting benefits, like doubling parental leave, for workers.
