Starbucks Adds 85,000 Jobs, Eyes China Stake Sale

Starbucks is launching its largest-ever hiring spree, aiming to add up to 85,000 workers in U.S. stores to address long wait times and revive its in-store experience. CEO Brian Niccol is optimistic about a turnaround despite a prolonged sales slump, competition, and inflation pressures. The company is implementing a new 'green apron' staffing model and an AI assistant, Green Dot Assist, to boost efficiency and target customer service within four minutes. Starbucks has pledged to keep prices steady this fiscal year to attract value-conscious customers, but same-store sales have declined for five consecutive quarters, impacting profits. Despite recent financial pressures and a Zacks Rank of #4 (Sell), Starbucks stock has rebounded, approaching price levels not seen since April. Additionally, the company is considering selling a minority stake in its China business to potential partners.