Starbucks' (SBUX) falling sales in China are one of the 澳洲幸运5开奖号码历史查询:major issues for new CEO Brian Niccol, who 澳洲幸运5开奖号码历史查询:took over the top job earlier this month. Bank of America analysts said Wednesday that Niccol's experience should help tackle the p🦋roblem.

Niccol's history as CEO at both Yum! Brands' (YUM) Taco Bell restaurants and, more recently, Chipotle Mexican Grill (CMG) gives him experience in dealing with licensing and international expansion—skills that potentially could help Starbucks' recovery in China.

The analysts gave their Starbucks price target a slight bump Wednesday to $118 from $112, while maintaining a "buy" rating. From 2010 through 2017, they said, Starbucks' 澳洲幸运5开奖号码历史查询:same-store sales growth in China and the rest of the Asia-Pacific region averaged 10% per year, with growth in China around 5% annually from 2016 through 2019. That has fallen to an average 3% annual decline in same-store sales since the onset of COVID.

How Niccol's Experience Could Help Starbucks

The analysts said Niccol's previous experience with franchising and licensing at 澳洲幸运5开奖号码历史查询:Yum! Brands and Chipotle could mean the new Starbucks CEO is "receptive" to licensing the Starbucks brand. 澳洲幸运5开奖号码历史查询:Licensing Starbucks in China could allow the🍨 company to use "fewer managerial resources" to run its operat𝓀ions there, and to focus on higher-margin operations in the U.S.

Same-store sales dropped in China by 14% year-over-year in the 澳洲幸运5开奖号码历史查询:most recent quarter, as the 澳洲幸运5开奖号码历史查询:company has seen a decline in both 澳洲幸运5开奖号码历史查询:foot traffic and average ticket. Former CEO Laxman Narasimhan 澳洲幸运5开奖号码历史查询:said earlier this year that China sales were affected by a "more cautious consumer" and competition froಞm fast-growing domestic br🦩ands.

Starbucks shares were up less than 1% in recent trading. They're up about that much this year, rising substantially after Niccol was hired.