1 month ago
Starbucks cups are pictured on a counter in Manhattan, New York, on Feb. 16, 2022.
Carlo Allegri | Reuters
Starbucks CEO Brian Niccol said the coffee chain plans to buy roughly 200,000 Sharpie markers as part of his plan to take the coffee chain back to its roots.
He's betting that more personal touches — including bringing back Sharpies to write customer names or messages on cups — will bring customers back to cafes. For three consecutive quarters, the company has reported declining sales. In Starbucks' latest quarter, reported Wednesday, traffic to its U.S. stores tumbled 10%.
Some customers think the coffee chain has drifted too far from its core, according to Niccol.
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While the company works on a more comprehensive turnaround strategy, Niccol unveiled some initial steps that the company is taking to rebuild the Starbucks brand in its home market. But even something as small as a marker isn't an easy task for Starbucks, which has nearly 17,000 locations in the U.S.
"I thought the number I heard was something like close to 200,000 Sharpies we've got to track down," Niccol said in an interview with CNBC's "Squawk Box." "Unfortunately, it's not as simple as just going to the Staples and picking up some Sharpies."
Other changes coming to U.S. cafes include the return of ceramic mugs, condiment bars and cozy furniture.
Niccol, who joined the company in early September, said he wants the chain to become a "third place" again, referencing the concept of a place to work and socialize outside of the home or office.
For decades, Starbucks positioned itself as a place to linger, but the company has lost that sheen over the years.
Niccol is also aiming to improve staffing at stores and cut service times for every order to under four minutes.
Shares of Starbucks have risen roughly 1% this year, trailing the S&P 500's gains of 22%. The company has a market cap of $110 billion.
— CNBC's Jacqueline Corba contributed reporting for this story.
