Starbucks New CEO Is Cutting Back on Coffee Deals and Promotions

Starbucks is scaling back on discounts and promotions, according to its new CEO.Photo byKomarov Egor/Unsplash

According to a new report by Zero Hedge, the new CEO of Starbucks plans to start cutting back on coffee deals and promotions. According to the report, Brian Niccol, the new CEO of the Seattle-based chain, plans on making the changes very soon.

Niccol, the former CEO of Chipotle Mexican Grill, was named the CEO of the popular coffee company over a month ago. The company released a statement saying, "Starbucks isn't planning to run broad offers during the holiday season, and instead aims to promote seasonal drinks through advertising".

Niccol released a statement saying, "The strategy is, simply put, just making a couple of powerful choices, and then we've got to execute like crazy".