Starbucks denies plan to buy Chipotle after report of possible takeover
Starbucks shot down reports that the coffee giant was considering acquiring restaurant chain Chipotle Mexican Grill.
"Our team is laser-focused on executing our Back to Starbucks strategy. We have strong momentum and confidence in our long-term growth potential. We look forward to sharing our Q4 results, including FY27 guidance, later this month," a Starbucks spokesperson said in a statement to CBS News.
Industry analysts were skeptical of the report. TD Cowen analysts said in a research note last week that they considered a merger between Starbucks and Chipotle "a low-probability outcome," and instead expected Starbucks chief executive Brian Niccol to prioritize the company's turnaround plan.
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- Starbucks shot down reports that the coffee giant was considering acquiring restaurant chain Chipotle Mexican Grill.
- "Our team is laser-focused on executing our Back to Starbucks strategy. We have strong momentum and confidence in our long-term growth potential. We look forward to sharing our Q4 results, including FY27 guidance, later this month," a Starb
- Industry analysts were skeptical of the report. TD Cowen analysts said in a research note last week that they considered a merger between Starbucks and Chipotle "a low-probability outcome," and instead expected Starbucks chief executive Bri
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