Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted by the International Business Times in a business article—by Panos Mourdoukoutas PhD, “Starbucks Is Turning From A ‘Third Place’ To A Fast Food ‘Driving Place’”—regarding changes in their business strategy and customer relations.
Below is the excerpted quote:
“Starbucks’ biggest problem is that it has lost its charm,” Michael Ashley Schulman, CFA, Partner / Chief Investment Officer Running Point Capital Advisors told International Business Times. “Starbucks used to not only sell coffee but also used to provide a fun, relaxing atmosphere and gift shop with sodas, coffee bags, tumblers, cups, and decorations to browse while waiting in line. It used to compete with a few other companies. Now, it is all about the drinks, food, drive-through, and pickup rush like any fast-food establishment.”
Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-22–17