Starbucks has reported a significant decline in sales for the fourth quarter, with global same-store sales dropping 7%, including a 6% decline in the U.S. and 14% in China. This slump has led to a re-evaluation of strategies under new CEO Brian Niccol, who plans to simplify the menu and revamp marketing efforts. The company's preliminary earnings per share fell 25%, and total revenue decreased by 3% to $9.1 billion. As a result, Starbucks has suspended its fiscal year 2025 guidance to allow Niccol time to implement a turnaround strategy. Despite a 4% increase in average ticket sales, the decline in foot traffic remains a challenge, partly due to intensified competition and economic conditions in key markets. Starbucks shares fell 4% in after-hours trading following the earnings release.