**Starbucks Faces Sales Slump Under New CEO Brian Niccol**

Starbucks is encountering significant challenges as its latest quarterly results reveal a steep drop in sales. This downturn puts new CEO Brian Niccol, who took over on September 9, in the hot seat to engineer a much-needed turnaround for the coffee giant.

The urgency for reform is heightened by a 7% decline in comparable sales globally for the quarter ending September 29, compared to the same period last year. This disappointing performance comes amidst ongoing difficulties in boosting foot traffic and resolving sluggish service issues, along with pressure from activist investors.

Niccol, renowned for his successful overhaul of Chipotle, now faces the daunting task of replicating his past achievements at Starbucks. To address these challenges, the company announced it would not provide earnings guidance for the next year, citing a "strategic reset" under Niccol's leadership.

In reaction to the news, Starbucks shares experienced a 2.9% drop in after-hours trading, falling to $94. This market response underscores the investor anxiety surrounding the company's current trajectory and the effectiveness of its forthcoming strategies.

Meanwhile, Target has already begun promoting merchandise for the upcoming "Wicked" movie, which is anticipated to have one of the biggest opening weekends of 2024. These early promotions are surfacing in various retail locations, including Starbucks.

In a separate development, McDonald's acknowledged that a fifth of its outlets have temporarily halted the sale of Quarter Pounders due to an E. coli outbreak. The fast-food chain emphasized that this appears to be a localized issue rather than a widespread or national concern.

All eyes are now on Starbucks and Niccol as they navigate through these tumultuous times, with hopes for a swift and effective recovery plan.