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Key Takeaways
- Starbucks announced an earlier launch of its fall lineup this year, with products including its popular pumpkin spice latte rolling out starting Thursday.
- The coffee giant has seen sales decline in the first half of the year, and recently hired a new CEO as it looks to reverse its struggles.
- Major retailers including Target have also recently expressed optimism that fall and Halloween-themed products can help drive sales in the third quarter after a difficult first half.
Starbucks (SBUX) is launching its fall lineup, including its popular pumpkin spice products, earlier than ever this year with many products set to roll out Thursday.
The early launch comes as Starbucks looks to boost sales following consecutive quarters of declining same store sales and a shakeup at the executive level, with Chipotle (CMG) CEO Brian Niccol set to take over leadership of the coffee giant next month.
The coffee chain has also joined a trend in the fast food industry in recent months as Starbucks and others like McDonald’s (MCD) emphasize value to draw consumers by offering lower-priced pairings of popular items.
Pumpkin Spice Joins Early Fall Rollouts
The launch of the popular fall items has crept earlier over the pumpkin spice latte’s lifespan, debuting in August each of the last seven years. Before 2018, the usual release date was in September, according to Axios.
Early holiday and fall-themed launches aren’t limited to Starbucks, as Target (TGT) executives said Wednesday they believe enthusiasm over the retailer’s fall lineup, from Halloween decorations and costumes to its own pumpkin spice-flavored foods, could drive sales in the third quarter.
Starbucks shares closed 0.4% lower at $92.43 Thursday, as they have slipped from the surge following the announcement of Niccol’s hiring last week.