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The Recession just hit Starbucks. CEO Warns: “People have stopped coming”

The economic recession is spreading. With Starbucks CEO warning that people have stopped coming to the store and their stock price collapsing as a result. One reason people have stopped coming to Starbucks is because it just became too expensive. Lattes are now almost $7, and in an economy where consumers have been hit hard by inflation and out of control credit card debt, they're now cutting back on going to Starbucks. This could be the sign of the consumer spending pullback and recession many have been predicting. With consumer sentiment in America recently falling in May 2024 due to worsening inflation expectations. Other fast food restaurants are also feeling the economic pain - like Mcdonalds, KFC, Taco Bell, and Pizza Hut. All of these restaurants registered negative YoY same-store sales growth adjusted for inflation. --- REVENTURE APP: https://www.reventure.app Access Exclusive Data and Videos as a Channel Member:    / @reventureconsulting   DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship. Image(s) and/or Footage used under license from Shutterstock.com. https://www.shutterstock.com/ Additional stock footage provided by Envato Elements. https://elements.envato.com/