KEY POINTS:
Starbucks is introducing a new automated espresso machine in its US stores as the coffee retailer seeks to re-energise its slumping business, the Associated Press (AP) reported today.
Facing thousands of shareholders eager to hear the company's plans, Starbucks Chairman and Chief Executive Howard Schultz announced the arrival of the Mastrena, a new machine designed to leave a smaller margin for error in pulling shots and steaming milk.
While likely to disappoint some longing for the return of old-school manual machines, the Mastrena is expected to make it easier for baristas to interact with customers.
Starbucks' stock has been falling steadily for more than a year, losing more than half its value since late 2006, when it was trading at close to US$40 a share. Its shares were down 53 cents, or 3 percent, at US$17.70 yesterday.
The share price descent comes on the back of what many commentators and bloggers are labelling a "poor customer experience", driven by long queues and a focus on franchise growth rather than the company's basic staple - providing good old-fashioned coffee.
- NZHERALD STAFF
